Solstein Capital LLC Purchases Shares of 3,750 Barrick Mining Corporation $B

Solstein Capital LLC purchased a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,750 shares of the gold and copper producer’s stock, valued at approximately $78,000.

Other large investors have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC lifted its stake in Barrick Mining by 1,919.0% in the first quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer’s stock valued at $56,000 after acquiring an additional 2,821 shares during the last quarter. Hedges Asset Management LLC acquired a new stake in Barrick Mining in the second quarter valued at $1,249,000. Chemistry Wealth Management LLC acquired a new stake in Barrick Mining in the second quarter valued at $246,000. Sequoia Financial Advisors LLC lifted its stake in Barrick Mining by 24.4% in the first quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer’s stock valued at $404,000 after acquiring an additional 4,082 shares during the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new stake in Barrick Mining in the second quarter valued at $337,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. National Bankshares upgraded shares of Barrick Mining to an “outperform” rating in a research note on Monday, September 22nd. Royal Bank Of Canada increased their price objective on shares of Barrick Mining from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Bank of America increased their price objective on shares of Barrick Mining from $36.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Scotiabank raised shares of Barrick Mining from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $27.50 to $43.00 in a research report on Thursday. Finally, Raymond James Financial set a $40.00 price objective on shares of Barrick Mining and gave the company an “outperform” rating in a research report on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $42.70.

Barrick Mining Price Performance

NYSE:B opened at $32.51 on Monday. Barrick Mining Corporation has a 52 week low of $15.11 and a 52 week high of $36.40. The firm has a market cap of $55.35 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 0.41 and a beta of 0.30. The firm’s 50-day simple moving average is $30.59 and its 200 day simple moving average is $24.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly 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. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period last year, the firm earned $0.32 earnings per share. Barrick Mining’s revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, sell-side analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Cuts Dividend

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