21,360 Shares in Barrick Mining Corporation $B Purchased by Alan B Lancz & Associates Inc.

Alan B Lancz & Associates Inc. purchased a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 21,360 shares of the gold and copper producer’s stock, valued at approximately $445,000.

Other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in Barrick Mining by 21.8% during the 1st quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer’s stock valued at $62,000 after purchasing an additional 563 shares during the period. Kestra Private Wealth Services LLC increased its position in Barrick Mining by 2.5% during the 1st quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer’s stock valued at $558,000 after purchasing an additional 710 shares during the period. Nicholas Hoffman & Company LLC. increased its position in Barrick Mining by 1.5% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer’s stock valued at $924,000 after purchasing an additional 716 shares during the period. Wedbush Securities Inc. increased its position in Barrick Mining by 5.9% during the 1st quarter. Wedbush Securities Inc. now owns 18,629 shares of the gold and copper producer’s stock valued at $362,000 after purchasing an additional 1,031 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in 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 valued at $5,592,000 after purchasing an additional 1,035 shares during the period. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

B has been the topic of a number of research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Barrick Mining in a research report on Tuesday, October 14th. UBS Group raised their target price on shares of Barrick Mining from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday. Citigroup raised their price target on shares of Barrick Mining from $21.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday. TD Securities raised their price target 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, BMO Capital Markets restated a “market perform” rating on shares of Barrick Mining in a report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Barrick Mining has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Barrick Mining Stock Down 6.3%

B stock opened at $33.41 on Monday. The firm has a 50 day moving average of $29.71 and a 200 day moving average of $23.49. The stock has a market capitalization of $56.88 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 0.42 and a beta of 0.30. 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 Corporation has a 52 week low of $15.11 and a 52 week high of $36.40.

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

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.15 dividend. The ex-dividend date 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 37.74%.

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.