Mediolanum International Funds Ltd Acquires Shares of 147,411 Barrick Mining Corporation $B

Mediolanum International Funds Ltd bought a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 147,411 shares of the gold and copper producer’s stock, valued at approximately $3,025,000.

Other institutional investors also recently modified their holdings of the company. Vermillion Wealth Management Inc. bought a new stake in Barrick Mining during the second quarter worth $25,000. Crowley Wealth Management Inc. bought a new stake in shares of Barrick Mining during the 2nd quarter worth $26,000. Concord Wealth Partners purchased a new position in shares of Barrick Mining in the 2nd quarter worth about $26,000. Ameriflex Group Inc. bought a new position in Barrick Mining during the second quarter valued at about $27,000. Finally, Trifecta Capital Advisors LLC bought a new position in Barrick Mining during the second quarter valued at about $27,000. 90.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

B has been the topic of several research reports. Scotiabank raised shares of Barrick Mining from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $27.50 to $43.00 in a research report on Thursday, October 23rd. UBS Group upped their price objective on Barrick Mining from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Royal Bank Of Canada raised their target price on Barrick Mining from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Weiss Ratings restated a “buy (b)” rating on shares of Barrick Mining in a research note on Monday, November 17th. Finally, Cormark upgraded Barrick Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 11th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Barrick Mining presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.90.

Barrick Mining Trading Up 1.6%

Shares of B stock opened at $36.56 on Friday. The stock has a market capitalization of $61.69 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 0.40 and a beta of 0.28. The company’s fifty day simple moving average is $33.62 and its two-hundred day simple moving average is $26.10. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $38.78. 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 for the quarter, beating the consensus estimate of $0.57 by $0.01. The company 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 quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 earnings per share. As a group, analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

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

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.