Trifecta Capital Advisors LLC Purchases New Holdings in Barrick Mining Corporation $B

Trifecta Capital Advisors LLC acquired a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,300 shares of the gold and copper producer’s stock, valued at approximately $27,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Barrick Mining by 0.7% during the first quarter. Vanguard Group Inc. now owns 68,861,295 shares of the gold and copper producer’s stock valued at $1,337,012,000 after buying an additional 502,762 shares during the period. TD Asset Management Inc raised its position in Barrick Mining by 1.6% during the first quarter. TD Asset Management Inc now owns 17,950,892 shares of the gold and copper producer’s stock valued at $348,479,000 after buying an additional 275,015 shares during the period. Ninety One UK Ltd acquired a new position in Barrick Mining during the second quarter valued at $326,862,000. Mackenzie Financial Corp raised its position in Barrick Mining by 1.9% during the first quarter. Mackenzie Financial Corp now owns 15,614,848 shares of the gold and copper producer’s stock valued at $303,161,000 after buying an additional 296,472 shares during the period. Finally, Ruffer LLP raised its position in Barrick Mining by 1.5% during the first quarter. Ruffer LLP now owns 10,426,795 shares of the gold and copper producer’s stock valued at $202,701,000 after buying an additional 156,947 shares during the period. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Stock Performance

NYSE:B opened at $33.90 on Thursday. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $36.10. The firm’s fifty day simple moving average is $28.12 and its 200 day simple moving average is $22.74. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $57.72 billion, a PE ratio of 21.32, a PEG ratio of 0.55 and a beta of 0.30.

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

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.15 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a yield of 1.8%. Barrick Mining’s dividend payout ratio (DPR) is presently 37.74%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Sanford C. Bernstein reissued an “outperform” rating on shares of Barrick Mining in a research report on Wednesday, September 24th. Raymond James Financial increased their target price on shares of Barrick Mining from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Wall Street Zen downgraded shares of Barrick Mining from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Bank of America increased their target price on shares of Barrick Mining from $29.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, September 19th. Finally, Zacks Research downgraded shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.22.

Barrick Mining Company 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.