Saturna Capital Corp Acquires New Position in Barrick Mining Corporation $B

Saturna Capital Corp bought a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 176,561 shares of the gold and copper producer’s stock, valued at approximately $3,676,000.

A number of other hedge funds also recently added to or reduced their stakes in B. Kestra Private Wealth Services LLC boosted its stake in shares of 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 worth $558,000 after acquiring an additional 710 shares in the last quarter. Nicholas Hoffman & Company LLC. raised its holdings in Barrick Mining by 1.5% during the first quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer’s stock worth $924,000 after purchasing an additional 716 shares during the last quarter. Wedbush Securities Inc. boosted its position in Barrick Mining by 5.9% during the first quarter. Wedbush Securities Inc. now owns 18,629 shares of the gold and copper producer’s stock worth $362,000 after purchasing an additional 1,031 shares in the last quarter. HighPoint Advisor Group LLC raised its stake in shares of Barrick Mining by 3.9% during the 1st quarter. HighPoint Advisor Group LLC now owns 28,744 shares of the gold and copper producer’s stock worth $543,000 after buying an additional 1,081 shares during the last quarter. Finally, Vermillion Wealth Management Inc. purchased a new stake in shares of Barrick Mining in the 2nd quarter worth about $25,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Stock Up 2.2%

Shares of NYSE B opened at $37.78 on Wednesday. The firm has a market cap of $63.75 billion, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 0.40 and a beta of 0.28. 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 Corporation has a 1 year low of $15.11 and a 1 year high of $38.32. The firm’s 50 day moving average price is $33.17 and its 200 day moving average price is $25.78.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.20 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 EPS. As a group, sell-side analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 1.9%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, November 28th. Barrick Mining’s dividend payout ratio (DPR) is currently 33.82%.

Analyst Ratings Changes

A number of equities research analysts recently commented on B shares. 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 note on Thursday, October 16th. CIBC increased their price target on shares of Barrick Mining from $38.00 to $50.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. National Bankshares raised shares of Barrick Mining to an “outperform” rating in a research note on Monday, September 22nd. Cibc World Mkts upgraded Barrick Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Finally, Scotiabank upgraded Barrick Mining from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $27.50 to $43.00 in a report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.90.

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.