Phraction Management LLC Invests $708,000 in Barrick Mining Corporation $B

Phraction Management LLC acquired a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 34,000 shares of the gold and copper producer’s stock, valued at approximately $708,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vermillion Wealth Management Inc. acquired a new stake in Barrick Mining during the second quarter worth about $25,000. Crowley Wealth Management Inc. bought a new stake in shares of Barrick Mining during the 2nd quarter worth approximately $26,000. SJS Investment Consulting Inc. acquired a new stake in shares of Barrick Mining during the 2nd quarter worth approximately $29,000. Cary Street Partners Investment Advisory LLC bought a new position in Barrick Mining in the first quarter valued at approximately $32,000. Finally, AdvisorNet Financial Inc acquired a new position in Barrick Mining during the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Stock Performance

Shares of B stock opened at $33.92 on Friday. The firm has a market capitalization 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 current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $27.13 and its 200-day moving average price is $22.34. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $36.10.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $3.60 billion. During the same quarter last year, the business earned $0.32 EPS. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. Equities research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.15 per share. 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 dividend payout ratio (DPR) is currently 37.74%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. UBS Group raised their target price on Barrick Mining from $26.00 to $35.00 and gave the company a “buy” rating in a report on Friday, September 19th. Cibc World Mkts raised Barrick Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. National Bankshares upgraded Barrick Mining to an “outperform” rating in a research report on Monday, September 22nd. Sanford C. Bernstein reissued an “outperform” rating on shares of Barrick Mining in a report on Wednesday, September 24th. Finally, TD Securities lifted their price target on shares of Barrick Mining from $30.00 to $38.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Barrick Mining presently has a consensus rating of “Moderate Buy” and an average price target of $33.33.

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.