Russell Investments Group Ltd. Makes New $90.95 Million Investment in Barrick Mining Corporation $B

Russell Investments Group Ltd. bought a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 4,373,038 shares of the gold and copper producer’s stock, valued at approximately $90,950,000.

A number of other hedge funds also recently bought and sold shares of B. J.W. Cole Advisors Inc. acquired a new stake in shares of Barrick Mining in the second quarter valued at about $545,000. Advisors Asset Management Inc. purchased a new stake in Barrick Mining in the 2nd quarter valued at $943,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Barrick Mining in the 2nd quarter valued at approximately $303,000. XTX Topco Ltd acquired a new position in shares of Barrick Mining in the 2nd quarter valued at $422,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in Barrick Mining in the second quarter valued at about $329,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on B shares. National Bankshares upgraded Barrick Mining to an “outperform” rating in a report on Monday, September 22nd. Cormark raised Barrick Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 11th. Raymond James Financial increased their price target on shares of Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday. Cibc World Mkts upgraded Barrick Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Finally, Zacks Research downgraded shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $44.78.

Barrick Mining Trading Up 4.7%

Barrick Mining stock opened at $40.97 on Thursday. The stock has a 50-day moving average price of $34.26 and a 200 day moving average price of $26.54. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. The stock has a market cap of $69.14 billion, a PE ratio of 25.77, a P/E/G ratio of 0.40 and a beta of 0.28. Barrick Mining Corporation has a 52 week low of $15.11 and a 52 week high of $41.08.

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

Barrick Mining Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a $0.175 dividend. 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. This represents a $0.70 annualized dividend and a dividend yield of 1.7%. Barrick Mining’s dividend payout ratio (DPR) is 33.82%.

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.