1,360,000 Shares in Barrick Mining Corporation $B Acquired by Monaco Asset Management SAM

Monaco Asset Management SAM acquired a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 1,360,000 shares of the gold and copper producer’s stock, valued at approximately $28,315,000. Barrick Mining makes up 5.0% of Monaco Asset Management SAM’s portfolio, making the stock its biggest holding.

Other institutional investors have also recently bought and sold shares of 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 buying an additional 2,821 shares in the last quarter. Hedges Asset Management LLC bought a new position in Barrick Mining during the 2nd quarter worth about $1,249,000. Chemistry Wealth Management LLC acquired a new stake in shares of Barrick Mining in the 2nd quarter valued at about $246,000. Sigma Planning Corp acquired a new stake in shares of Barrick Mining in the 2nd quarter valued at about $1,306,000. Finally, First Eagle Investment Management LLC bought a new stake in shares of Barrick Mining in the second quarter valued at about $822,056,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on B. National Bankshares raised Barrick Mining to an “outperform” rating in a research report on Monday, September 22nd. Citigroup raised their price objective on Barrick Mining from $21.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Raymond James Financial set a $40.00 target price on Barrick Mining and gave the stock an “outperform” rating in a report on Friday, October 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Barrick Mining in a research report on Wednesday. Finally, 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 note on Thursday, October 16th. Two equities 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $42.90.

Barrick Mining Trading Up 1.5%

Shares of Barrick Mining stock opened at $33.05 on Friday. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $36.40. The company has a market capitalization of $55.76 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 0.40 and a beta of 0.28. The business has a fifty day simple moving average of $31.94 and a two-hundred day simple moving average of $24.87. 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 issued its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The company’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 earnings per share. Research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 annualized dividend and a dividend yield of 1.8%. Barrick Mining’s dividend payout ratio is presently 37.74%.

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.