Huntington National Bank Makes New Investment in Barrick Mining Corporation $B

Huntington National Bank bought a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,722 shares of the gold and copper producer’s stock, valued at approximately $286,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of B. Vermillion Wealth Management Inc. acquired a new stake in shares of Barrick Mining in the second quarter valued at about $25,000. Concord Wealth Partners acquired a new position in shares of Barrick Mining during the second quarter worth approximately $26,000. Crowley Wealth Management Inc. bought a new stake in shares of Barrick Mining in the second quarter valued at approximately $26,000. Ameriflex Group Inc. acquired a new stake in shares of Barrick Mining in the second quarter worth $27,000. Finally, Trifecta Capital Advisors LLC acquired a new position in Barrick Mining during the 2nd quarter valued at $27,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on B shares. Zacks Research downgraded Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. National Bank Financial raised Barrick Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, September 22nd. Citigroup increased their price target on Barrick Mining from $21.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Scotiabank upgraded shares of Barrick Mining from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $27.50 to $43.00 in a research report on Thursday, October 23rd. Finally, CIBC lifted their price objective on shares of Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.90.

Barrick Mining Trading Down 0.7%

Shares of Barrick Mining stock opened at $32.56 on Friday. The company has a market capitalization of $54.94 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 0.40 and a beta of 0.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53. The business has a fifty day simple moving average of $31.81 and a two-hundred day simple moving average of $24.74. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $36.40.

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 for the quarter, hitting analysts’ consensus estimates of $0.47. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The company’s revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 earnings per share. Research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The business also recently disclosed 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 of this dividend was Friday, August 29th. This represents a $0.60 annualized dividend and a yield of 1.8%. Barrick Mining’s dividend payout ratio is presently 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.