Quadrant Capital Group LLC Buys New Holdings in Barrick Mining Corporation $B

Quadrant Capital Group LLC purchased a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 31,241 shares of the gold and copper producer’s stock, valued at approximately $650,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cetera Investment Advisers raised its holdings in Barrick Mining by 38.4% in the first quarter. Cetera Investment Advisers now owns 198,146 shares of the gold and copper producer’s stock valued at $3,852,000 after buying an additional 54,976 shares during the period. Arkadios Wealth Advisors raised its stake in shares of Barrick Mining by 21.2% in the 1st quarter. Arkadios Wealth Advisors now owns 17,594 shares of the gold and copper producer’s stock valued at $342,000 after acquiring an additional 3,081 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Barrick Mining by 75.0% during the 1st quarter. Natixis Advisors LLC now owns 253,149 shares of the gold and copper producer’s stock valued at $4,921,000 after acquiring an additional 108,455 shares in the last quarter. Harbour Investments Inc. boosted its position in Barrick Mining by 298.8% during the 1st quarter. Harbour Investments Inc. now owns 8,611 shares of the gold and copper producer’s stock worth $167,000 after purchasing an additional 6,452 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in Barrick Mining by 32.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 25,426 shares of the gold and copper producer’s stock valued at $494,000 after purchasing an additional 6,228 shares in the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on B. Royal Bank Of Canada boosted their price objective on Barrick Mining from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Citigroup upgraded Barrick Mining from a “hold” rating to a “buy” rating in a report on Monday, November 24th. Cowen reiterated a “buy” rating on shares of Barrick Mining in a research note on Wednesday, November 26th. Cibc World Mkts upgraded shares of Barrick Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Barrick Mining in a research note on Monday. Two 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. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $45.67.

Barrick Mining Trading Down 3.0%

NYSE B opened at $41.06 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.33 and a current ratio of 2.94. Barrick Mining Corporation has a one year low of $15.11 and a one year high of $43.08. The company has a 50-day simple moving average of $34.93 and a 200-day simple moving average of $27.27. The firm has a market capitalization of $69.29 billion, a PE 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 released its quarterly earnings data on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same quarter in the prior year, the business earned $0.09 earnings per share. Barrick Mining’s quarterly revenue was up 23.2% on a year-over-year basis. On average, equities analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a $0.175 dividend. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.70 annualized dividend and a dividend yield of 1.7%. Barrick Mining’s dividend payout ratio (DPR) is 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.