Levin Capital Strategies L.P. Takes $515,000 Position in Barrick Mining Corporation $B

Levin Capital Strategies L.P. acquired a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 24,729 shares of the gold and copper producer’s stock, valued at approximately $515,000.

Several other large investors have also made changes to their positions in the business. Peregrine Asset Advisers Inc. acquired a new stake in Barrick Mining in the 2nd quarter valued at approximately $757,000. Bank of New York Mellon Corp bought a new stake in shares of Barrick Mining in the second quarter valued at approximately $33,811,000. Burney Co. acquired a new stake in shares of Barrick Mining in the second quarter worth $1,026,000. Sigma Planning Corp bought a new position in Barrick Mining during the second quarter worth $1,306,000. Finally, Regal Partners Ltd acquired a new position in Barrick Mining during the 2nd quarter valued at $6,122,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. National Bank Financial upgraded shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, September 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Barrick Mining in a research report on Tuesday, October 14th. Citigroup upped their target price on Barrick Mining from $21.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Zacks Research downgraded shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Finally, Bank of America boosted their price target on shares of Barrick Mining from $36.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Two 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.90.

Barrick Mining Price Performance

Shares of B stock opened at $33.02 on Tuesday. The stock’s fifty day simple moving average is $31.46 and its 200 day simple moving average is $24.55. Barrick Mining Corporation has a one year low of $15.11 and a one year high of $36.40. The firm has a market cap of $55.72 billion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 0.40 and a beta of 0.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53.

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 return on equity of 8.19% and a net margin of 19.99%.The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same period last year, the business earned $0.32 earnings per share. The business’s revenue was up 16.4% on a year-over-year basis. On average, analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently declared 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 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 37.74%.

About Barrick Mining

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.