CENTRAL TRUST Co Purchases Shares of 1,790 Barrick Mining Corporation $B

CENTRAL TRUST Co acquired a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,790 shares of the gold and copper producer’s stock, valued at approximately $37,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its holdings in Barrick Mining by 18.0% during the first quarter. Envestnet Asset Management Inc. now owns 828,666 shares of the gold and copper producer’s stock worth $16,109,000 after purchasing an additional 126,643 shares during the period. Cerity Partners LLC lifted its position in shares of Barrick Mining by 47.4% in the first quarter. Cerity Partners LLC now owns 136,786 shares of the gold and copper producer’s stock valued at $2,659,000 after buying an additional 44,002 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Barrick Mining by 15.5% during the 1st quarter. New York State Common Retirement Fund now owns 194,806 shares of the gold and copper producer’s stock worth $3,787,000 after acquiring an additional 26,170 shares during the period. Sigma Planning Corp increased its holdings in shares of Barrick Mining by 22.2% during the 1st quarter. Sigma Planning Corp now owns 14,127 shares of the gold and copper producer’s stock worth $275,000 after acquiring an additional 2,567 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Barrick Mining by 0.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 287,668 shares of the gold and copper producer’s stock worth $5,592,000 after acquiring an additional 1,035 shares during the last quarter. 90.82% of the stock is owned by institutional investors.

Barrick Mining Stock Performance

Shares of NYSE:B opened at $37.00 on Friday. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $37.73. The company’s 50 day moving average price is $32.84 and its two-hundred day moving average price is $25.42. The firm has a market cap of $62.43 billion, a PE ratio of 23.27, a PEG ratio of 0.40 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, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. The business had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.20 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 earnings per share. Equities research analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, November 28th. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s dividend payout ratio is currently 33.82%.

Analyst Ratings Changes

A number of equities analysts have commented on B shares. BMO Capital Markets reaffirmed a “market perform” rating on shares of Barrick Mining in a research report on Monday, September 22nd. National Bankshares upgraded shares of Barrick Mining to an “outperform” rating in a research note on Monday, September 22nd. CIBC upped their price target on shares of Barrick Mining from $38.00 to $50.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Wall Street Zen downgraded shares of Barrick Mining from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Finally, Canaccord Genuity Group upped their target price on Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Barrick Mining currently has a consensus rating of “Moderate Buy” and an average price target of $42.90.

Barrick Mining Company Profile

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.