Keybank National Association OH Takes Position in Barrick Mining Corporation $B

Keybank National Association OH purchased a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 17,364 shares of the gold and copper producer’s stock, valued at approximately $362,000.

Other hedge funds also recently bought and sold shares of the company. Vermillion Wealth Management Inc. acquired a new position in shares of Barrick Mining during the 2nd quarter worth approximately $25,000. Concord Wealth Partners purchased a new position in Barrick Mining during the second quarter worth approximately $26,000. Crowley Wealth Management Inc. acquired a new position in Barrick Mining during the second quarter worth $26,000. Ameriflex Group Inc. acquired a new position in Barrick Mining during the second quarter worth $27,000. Finally, Trifecta Capital Advisors LLC purchased a new stake in Barrick Mining in the 2nd quarter valued at $27,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on B. Weiss Ratings reiterated a “buy (b-)” rating on shares of Barrick Mining in a report on Tuesday, October 14th. Canaccord Genuity Group raised their price objective on shares of Barrick Mining from $39.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Scotiabank raised shares of Barrick Mining from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $27.50 to $43.00 in a research note on Thursday, October 23rd. Sanford C. Bernstein reissued an “outperform” rating on shares of Barrick Mining in a research note on Wednesday, September 24th. Finally, UBS Group raised their price target on shares of Barrick Mining from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.90.

Barrick Mining Stock Performance

NYSE:B opened at $32.78 on Thursday. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $36.40. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. The company has a 50 day moving average price of $31.69 and a 200 day moving average price of $24.69. The stock has a market capitalization of $55.31 billion, a P/E ratio of 20.62, a PEG ratio of 0.40 and a beta of 0.28.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $3.60 billion. During the same period in the prior year, the firm earned $0.32 earnings per share. The firm’s revenue was up 16.4% compared to the same quarter last year. Equities research analysts forecast 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. Shareholders of record on Friday, August 29th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining’s 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.