Edmond DE Rothschild Holding S.A. Invests $329,000 in Barrick Mining Corporation $B

Edmond DE Rothschild Holding S.A. purchased a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 15,873 shares of the gold and copper producer’s stock, valued at approximately $329,000.

Several other institutional investors have also recently made changes to their positions in B. Vermillion Wealth Management Inc. acquired a new position in Barrick Mining during the second quarter worth $25,000. Concord Wealth Partners acquired a new stake in shares of Barrick Mining in the 2nd quarter worth $26,000. Crowley Wealth Management Inc. purchased a new position in Barrick Mining during the second quarter worth about $26,000. Ameriflex Group Inc. purchased a new stake in shares of Barrick Mining during the 2nd quarter valued at approximately $27,000. Finally, Trifecta Capital Advisors LLC purchased a new stake in Barrick Mining in the second quarter valued at $27,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Stock Up 4.7%

B opened at $40.97 on Thursday. The stock has a market capitalization of $69.14 billion, a P/E ratio of 25.77, a P/E/G ratio of 0.40 and a beta of 0.28. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $41.08. The business has a 50 day simple moving average of $34.26 and a 200-day simple moving average of $26.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The business had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter last year, the firm posted $0.09 EPS. The business’s revenue was up 23.2% compared to the same quarter last year. On average, equities analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.7%. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, November 28th. Barrick Mining’s dividend payout ratio is currently 33.82%.

Analyst Ratings Changes

B has been the topic of a number of research analyst reports. National Bank Financial raised shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 22nd. Raymond James Financial lifted their price objective on Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday. CIBC upped their price objective on Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Scotiabank upgraded shares of Barrick Mining from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $27.50 to $43.00 in a report on Thursday, October 23rd. Finally, National Bankshares raised Barrick Mining to an “outperform” rating in a research report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $44.78.

Barrick Mining 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.