3,062 Shares in Barrick Mining Corporation $B Acquired by Cromwell Holdings LLC

Cromwell Holdings LLC acquired a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the second quarter, HoldingsChannel.com reports. The firm acquired 3,062 shares of the gold and copper producer’s stock, valued at approximately $64,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC lifted its position in Barrick Mining by 1,919.0% during the first quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer’s stock worth $56,000 after buying an additional 2,821 shares in the last quarter. Hedges Asset Management LLC purchased a new position in Barrick Mining during the second quarter worth approximately $1,249,000. Chemistry Wealth Management LLC purchased a new position in Barrick Mining during the second quarter worth approximately $246,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Barrick Mining by 14.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer’s stock valued at $1,141,000 after buying an additional 9,149 shares during the period. Finally, Sequoia Financial Advisors LLC raised its position in shares of Barrick Mining by 24.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer’s stock valued at $404,000 after buying an additional 4,082 shares during the period. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. CIBC reaffirmed an “outperform” rating on shares of Barrick Mining in a research report on Monday, September 22nd. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Barrick Mining in a research report on Wednesday, September 24th. Royal Bank Of Canada lifted their price target on shares of Barrick Mining from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Zacks Research lowered shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Finally, Cibc World Mkts raised shares of Barrick Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Barrick Mining presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

Barrick Mining Stock Up 0.6%

Shares of NYSE B opened at $33.92 on Friday. The firm has a market cap of $57.76 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 0.56 and a beta of 0.30. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. Barrick Mining Corporation has a 52-week low of $15.11 and a 52-week high of $36.10. The business’s 50 day moving average is $27.13 and its two-hundred day moving average is $22.34.

Barrick Mining (NYSE:B) (TSE:ABX) last announced 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. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 earnings per share. Research analysts predict 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. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a yield of 1.8%. Barrick Mining’s payout ratio is presently 37.74%.

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.