Bruce G. Allen Investments LLC Makes New $61,000 Investment in Barrick Mining Corporation $B

Bruce G. Allen Investments LLC purchased a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,918 shares of the gold and copper producer’s stock, valued at approximately $61,000.

A number of other institutional investors have also recently bought and sold shares of B. Focus Partners Wealth lifted its stake in shares of Barrick Mining by 40.8% in the 4th quarter. Focus Partners Wealth now owns 44,211 shares of the gold and copper producer’s stock valued at $685,000 after purchasing an additional 12,815 shares during the period. Two Sigma Investments LP lifted its stake in Barrick Mining by 5.6% in the fourth quarter. Two Sigma Investments LP now owns 2,700,606 shares of the gold and copper producer’s stock valued at $41,859,000 after buying an additional 142,697 shares during the period. Two Sigma Advisers LP boosted its holdings in Barrick Mining by 7.4% during the fourth quarter. Two Sigma Advisers LP now owns 3,875,500 shares of the gold and copper producer’s stock worth $60,070,000 after buying an additional 266,900 shares during the last quarter. Twinbeech Capital LP acquired a new position in shares of Barrick Mining during the 4th quarter worth about $334,000. Finally, Voloridge Investment Management LLC bought a new stake in shares of Barrick Mining in the 4th quarter valued at about $12,615,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on B. Cibc World Mkts raised shares of Barrick Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Royal Bank Of Canada set a $26.00 target price on Barrick Mining and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Scotiabank increased their price target on Barrick Mining from $25.00 to $26.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 13th. Zacks Research downgraded shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Barrick Mining in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.94.

Barrick Mining Stock Performance

Shares of B stock opened at $28.89 on Wednesday. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $29.79. The company’s fifty day simple moving average is $24.25 and its 200-day simple moving average is $21.13. The firm has a market cap of $49.19 billion, a PE ratio of 18.17, a P/E/G ratio of 0.51 and a beta of 0.28. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The company’s revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 EPS. Equities research analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.15 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.60 annualized dividend and a yield of 2.1%. Barrick Mining’s payout ratio is 37.74%.

About Barrick Mining

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.