Haven Global Partners LLC Buys New Shares in Barrick Mining Corporation $B

Haven Global Partners LLC purchased a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 957,762 shares of the gold and copper producer’s stock, valued at approximately $19,899,000. Barrick Mining comprises 15.6% of Haven Global Partners LLC’s holdings, making the stock its 3rd largest holding.

Other large investors also recently modified their holdings of the company. New York State Common Retirement Fund grew its holdings in shares of Barrick Mining by 15.5% in the 1st quarter. New York State Common Retirement Fund now owns 194,806 shares of the gold and copper producer’s stock valued at $3,787,000 after acquiring an additional 26,170 shares in the last quarter. Kestra Private Wealth Services LLC boosted its position in Barrick Mining by 2.5% during the first 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 last quarter. HighPoint Advisor Group LLC grew its stake in Barrick Mining by 3.9% in the first quarter. HighPoint Advisor Group LLC now owns 28,744 shares of the gold and copper producer’s stock valued at $543,000 after purchasing an additional 1,081 shares in the last quarter. Auto Owners Insurance Co grew its stake in Barrick Mining by 10,194.1% in the first quarter. Auto Owners Insurance Co now owns 1,050,000 shares of the gold and copper producer’s stock valued at $20,412,000 after purchasing an additional 1,039,800 shares in the last quarter. Finally, Wedbush Securities Inc. increased its position in shares of 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 worth $362,000 after purchasing an additional 1,031 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Scotiabank raised 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 report on Thursday, October 23rd. National Bank Financial upgraded shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 22nd. UBS Group lifted their price objective on shares of Barrick Mining from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Cibc World Mkts raised shares of Barrick Mining from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Finally, Canaccord Genuity Group raised their target price on shares of Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.90.

Barrick Mining Price Performance

NYSE:B opened at $37.73 on Thursday. The company has a market cap of $63.67 billion, a P/E ratio of 23.73, a P/E/G ratio of 0.40 and a beta of 0.28. The firm’s fifty day moving average price is $33.33 and its two-hundred day moving average price is $25.86. Barrick Mining Corporation has a one year low of $15.11 and a one year high of $38.78. 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 announced its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The business had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter in the previous year, the firm posted $0.09 EPS. Barrick Mining’s revenue was up 23.2% compared to the same quarter last year. Equities analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

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

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.