Employees Retirement System of Texas Makes New $2.47 Million Investment in Barrick Mining Corporation $B

Employees Retirement System of Texas bought a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 118,586 shares of the gold and copper producer’s stock, valued at approximately $2,469,000.

Several other hedge funds also recently modified their holdings of B. Vermillion Wealth Management Inc. purchased a new stake in Barrick Mining in the 2nd quarter valued at $25,000. Crowley Wealth Management Inc. purchased a new position in Barrick Mining during the 2nd quarter worth $26,000. Concord Wealth Partners bought a new stake in shares of Barrick Mining in the 2nd quarter worth $26,000. Ameriflex Group Inc. purchased a new stake in shares of Barrick Mining in the second quarter valued at about $27,000. Finally, Trifecta Capital Advisors LLC purchased a new stake in shares of Barrick Mining in the second quarter valued at about $27,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on B shares. Citigroup upgraded shares of Barrick Mining from a “hold” rating to a “buy” rating in a report on Monday. TD Securities lifted their target price on shares of Barrick Mining from $38.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Canaccord Genuity Group boosted their target price on Barrick Mining from $39.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Barrick Mining in a research report on Monday, September 22nd. Finally, Zacks Research lowered Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Barrick Mining presently has an average rating of “Buy” and a consensus price target of $44.78.

Barrick Mining Stock Up 4.7%

Barrick Mining stock opened at $40.97 on Friday. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $41.08. The firm has a 50 day moving average price of $34.48 and a 200-day moving average price of $26.64. The company has a market capitalization of $69.14 billion, a P/E ratio of 25.77, a P/E/G ratio of 0.40 and a beta of 0.28. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The company had revenue of $4.19 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. As a group, equities analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, November 28th. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s dividend payout ratio is currently 33.82%.

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.