Groupe la Francaise Acquires 29,816 Shares of Barrick Mining Corporation $B

Groupe la Francaise raised its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 3.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 943,327 shares of the gold and copper producer’s stock after purchasing an additional 29,816 shares during the period. Groupe la Francaise’s holdings in Barrick Mining were worth $34,667,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CW Advisors LLC bought a new stake in Barrick Mining during the second quarter worth $283,000. EverSource Wealth Advisors LLC bought a new position in Barrick Mining during the 2nd quarter valued at $53,000. First Trust Advisors LP bought a new position in Barrick Mining during the 2nd quarter valued at $857,000. Baird Financial Group Inc. purchased a new position in Barrick Mining during the 2nd quarter worth $2,569,000. Finally, Cresset Asset Management LLC bought a new stake in shares of Barrick Mining in the 2nd quarter worth $543,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Stock Performance

NYSE B opened at $44.75 on Monday. The stock has a market capitalization of $73.65 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.28 and a beta of 0.51. Barrick Mining Corporation has a one year low of $27.43 and a one year high of $54.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.36. The business’s fifty day moving average is $40.13 and its 200-day moving average is $41.49.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. The company had revenue of $4.19 billion during the quarter, compared to analyst estimates of $5.10 billion. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. The firm’s revenue for the quarter was up 43.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.47 earnings per share. Equities research analysts predict that Barrick Mining Corporation will post 3.56 EPS for the current year.

Barrick Mining Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, August 31st. Barrick Mining’s payout ratio is presently 18.04%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on B. Bank of America lowered their target price on shares of Barrick Mining from $56.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. UBS Group reduced their price objective on shares of Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Canadian Imperial Bank of Commerce set a $57.00 price objective on shares of Barrick Mining in a research note on Wednesday, August 12th. Barclays lifted their target price on shares of Barrick Mining from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Finally, Scotiabank cut their target price on Barrick Mining from $57.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Barrick Mining presently has an average rating of “Moderate Buy” and a consensus price target of $52.36.

Barrick Mining Profile

Barrick Gold Corporation, commonly known as Barrick, is a Toronto?headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large?scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.

The company’s activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.