Regal Partners Ltd Invests $6.12 Million in Barrick Mining Corporation $B

Regal Partners Ltd purchased a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 294,026 shares of the gold and copper producer’s stock, valued at approximately $6,122,000. Barrick Mining accounts for approximately 0.5% of Regal Partners Ltd’s holdings, making the stock its 28th largest position.

Other hedge funds have also made changes to their positions in the company. Vermillion Wealth Management Inc. acquired a new stake in shares of Barrick Mining during the second quarter worth about $25,000. Concord Wealth Partners acquired a new stake in shares of Barrick Mining during the second quarter worth about $26,000. Crowley Wealth Management Inc. acquired a new stake in shares of Barrick Mining during the second quarter worth about $26,000. Ameriflex Group Inc. acquired a new stake in shares of Barrick Mining during the second quarter worth about $27,000. Finally, Trifecta Capital Advisors LLC acquired a new stake in shares of Barrick Mining during the second quarter worth about $27,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Stock Down 0.8%

B stock opened at $32.80 on Friday. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $36.40. The company’s 50 day moving average is $31.33 and its two-hundred day moving average is $24.44. The stock has a market cap of $55.35 billion, a P/E ratio of 20.63, a PEG ratio of 0.40 and a beta of 0.30.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter last year, the company earned $0.32 earnings per share. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. Research analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a yield of 1.8%. Barrick Mining’s dividend payout ratio (DPR) is presently 37.74%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on B. Weiss Ratings reissued a “buy (b-)” rating on shares of Barrick Mining in a research report on Tuesday, October 14th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Barrick Mining in a report on Monday, September 22nd. Scotiabank raised shares of Barrick Mining from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $27.50 to $43.00 in a report on Thursday, October 23rd. TD Securities raised their target price on shares of Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Zacks Research cut shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $42.90.

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.