Bank of New York Mellon Corp Purchases New Position in Barrick Mining Corporation $B

Bank of New York Mellon Corp acquired a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, Holdings Channel reports. The fund acquired 1,623,980 shares of the gold and copper producer’s stock, valued at approximately $33,811,000.

Several other institutional investors have also modified their holdings of B. Envestnet Asset Management Inc. increased its position in shares of Barrick Mining by 18.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 828,666 shares of the gold and copper producer’s stock valued at $16,109,000 after purchasing an additional 126,643 shares during the last quarter. Cerity Partners LLC boosted its stake in Barrick Mining by 47.4% during the first quarter. Cerity Partners LLC now owns 136,786 shares of the gold and copper producer’s stock worth $2,659,000 after buying an additional 44,002 shares during the period. New York State Common Retirement Fund increased its position in Barrick Mining by 15.5% during the first 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 during the last quarter. Bleakley Financial Group LLC raised its stake in shares of Barrick Mining by 5.5% in the first quarter. Bleakley Financial Group LLC now owns 26,366 shares of the gold and copper producer’s stock valued at $513,000 after acquiring an additional 1,375 shares during the period. Finally, Sigma Planning Corp lifted its holdings in shares of Barrick Mining by 22.2% in the 1st quarter. Sigma Planning Corp now owns 14,127 shares of the gold and copper producer’s stock worth $275,000 after acquiring an additional 2,567 shares during the last quarter. 90.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on B. TD Securities increased their price objective 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. Citigroup upped their target price on Barrick Mining from $21.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. National Bank Financial raised Barrick Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 22nd. Wall Street Zen downgraded Barrick Mining from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a research report on Tuesday. Two equities 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.90.

Barrick Mining Price Performance

B opened at $36.39 on Friday. The company has a market capitalization of $61.40 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 0.40 and a beta of 0.28. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $37.62. The business’s fifty day simple moving average is $32.67 and its 200-day simple moving average is $25.30.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $4.20 billion. During the same period in the prior year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, equities research analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The firm also recently declared 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. This represents a $0.70 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, November 28th. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s dividend payout ratio is currently 37.74%.

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.