Barrick Mining Corporation (B) to Issue Quarterly Dividend of $0.15 on September 15th

Barrick Mining Corporation (NYSE:B) (TSE:ABX) declared a quarterly dividend on Monday, August 11th, investing.com reports. Stockholders of record on Friday, August 29th will be given a dividend of 0.15 per share by the gold and copper producer on Monday, September 15th. This represents a c) annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, August 29th.

Barrick Mining has a dividend payout ratio of 17.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Barrick Mining to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 25.8%.

Barrick Mining Stock Performance

Shares of B stock opened at $26.78 on Wednesday. The stock has a 50 day simple moving average of $22.17 and a 200-day simple moving average of $20.10. The company has a market cap of $45.69 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 0.48 and a beta of 0.27. 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 has a 12-month low of $15.11 and a 12-month high of $26.79.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period last year, the company posted $0.32 earnings per share. The firm’s revenue was up 16.4% compared to the same quarter last year. On average, equities analysts forecast that Barrick Mining will post 1.47 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its holdings in shares of Barrick Mining by 21.8% in the 1st quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer’s stock worth $62,000 after buying an additional 563 shares during the last quarter. Sapient Capital LLC lifted its holdings in Barrick Mining by 0.5% during the first quarter. Sapient Capital LLC now owns 114,572 shares of the gold and copper producer’s stock valued at $2,227,000 after purchasing an additional 624 shares in the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of Barrick Mining by 2.5% in the first quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer’s stock worth $558,000 after buying an additional 710 shares in the last quarter. Nicholas Hoffman & Company LLC. raised its stake in Barrick Mining by 1.5% during the first quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer’s stock valued at $924,000 after purchasing an additional 716 shares in the last quarter. Finally, Edge Wealth Management LLC increased its position in Barrick Mining by 6.1% during the first quarter. Edge Wealth Management LLC now owns 13,110 shares of the gold and copper producer’s stock valued at $255,000 after acquiring an additional 755 shares during the last quarter. 90.82% of the stock is owned by institutional investors.

About Barrick Mining

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.