144,293 Shares in Barrick Mining Corporation $B Bought by Profund Advisors LLC

Profund Advisors LLC bought a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the second quarter, according to its most recent filing with the SEC. The fund bought 144,293 shares of the gold and copper producer’s stock, valued at approximately $3,004,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Barrick Mining by 0.7% in the first quarter. Vanguard Group Inc. now owns 68,861,295 shares of the gold and copper producer’s stock valued at $1,337,012,000 after acquiring an additional 502,762 shares during the last quarter. First Eagle Investment Management LLC bought a new position in Barrick Mining during the second quarter valued at $822,056,000. TD Asset Management Inc bought a new position in Barrick Mining during the second quarter valued at $386,328,000. Ninety One UK Ltd purchased a new stake in Barrick Mining in the second quarter worth $326,862,000. Finally, Mackenzie Financial Corp lifted its position in shares of Barrick Mining by 1.9% during the 1st quarter. Mackenzie Financial Corp now owns 15,614,848 shares of the gold and copper producer’s stock valued at $303,161,000 after buying an additional 296,472 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Up 1.5%

Shares of NYSE:B opened at $33.05 on Monday. The firm has a fifty day moving average price of $31.94 and a two-hundred day moving average price of $24.91. The company has a market cap of $55.76 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 0.40 and a beta of 0.28. 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 Corporation has a one year low of $15.11 and a one year high of $36.40.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on B shares. National Bank Financial raised Barrick Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, September 22nd. National Bankshares raised shares of Barrick Mining to an “outperform” rating in a research report on Monday, September 22nd. Zacks Research downgraded shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. UBS Group boosted their target price on shares of Barrick Mining from $35.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Barrick Mining in a research report on Wednesday, September 24th. 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.