OMERS ADMINISTRATION Corp Purchases Shares of 86,664 Barrick Mining Corporation $B

OMERS ADMINISTRATION Corp acquired a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 86,664 shares of the gold and copper producer’s stock, valued at approximately $1,801,000.

Other hedge funds have also modified their holdings of the company. Nicholas Hoffman & Company LLC. increased its holdings in Barrick Mining by 1.5% during the 1st 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 period. Vermillion Wealth Management Inc. purchased a new stake in shares of Barrick Mining during the second quarter worth approximately $25,000. Concord Wealth Partners acquired a new stake in Barrick Mining in the second quarter valued at approximately $26,000. Crowley Wealth Management Inc. purchased a new position in Barrick Mining in the second quarter worth approximately $26,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Barrick Mining in the 2nd quarter valued at approximately $27,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on B shares. Raymond James Financial lifted their price objective on shares of Barrick Mining from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 25th. Royal Bank Of Canada upped their price objective on Barrick Mining from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Zacks Research lowered Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Canaccord Genuity Group upped their price target on Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Finally, Cibc World Mkts raised shares of Barrick Mining from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $45.67.

Barrick Mining Trading Down 3.0%

B opened at $41.06 on Wednesday. The company has a quick ratio of 2.33, a current ratio of 2.94 and a debt-to-equity ratio of 0.14. Barrick Mining Corporation has a 52 week low of $15.11 and a 52 week high of $43.08. The business’s 50 day moving average is $34.93 and its two-hundred day moving average is $27.27. The firm has a market cap of $69.29 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 0.44 and a beta of 0.40.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. The business had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.20 billion. Barrick Mining had a return on equity of 9.48% and a net margin of 24.53%.The company’s revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 earnings per share. On average, research 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 dividend on an annualized basis and a dividend yield of 1.7%. This is a positive change 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 presently 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.