Harvest Portfolios Group Inc. Takes $954,000 Position in Barrick Mining Corporation $B

Harvest Portfolios Group Inc. bought a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the second quarter, HoldingsChannel reports. The fund bought 45,823 shares of the gold and copper producer’s stock, valued at approximately $954,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Kestra Private Wealth Services LLC raised its stake in shares of Barrick Mining by 2.5% in the first quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer’s stock worth $558,000 after buying an additional 710 shares during the period. Nicholas Hoffman & Company LLC. increased its holdings in Barrick Mining by 1.5% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer’s stock worth $924,000 after acquiring an additional 716 shares in the last quarter. Wedbush Securities Inc. raised its stake in Barrick Mining by 5.9% during the 1st quarter. Wedbush Securities Inc. now owns 18,629 shares of the gold and copper producer’s stock worth $362,000 after acquiring an additional 1,031 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Barrick Mining by 0.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 287,668 shares of the gold and copper producer’s stock valued at $5,592,000 after purchasing an additional 1,035 shares in the last quarter. Finally, HighPoint Advisor Group LLC boosted its position in shares of Barrick Mining by 3.9% in the first quarter. HighPoint Advisor Group LLC now owns 28,744 shares of the gold and copper producer’s stock worth $543,000 after purchasing an additional 1,081 shares during the period. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Trading Up 1.5%

Shares of Barrick Mining stock opened at $33.05 on Friday. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $36.40. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $31.94 and a 200-day moving average price of $24.83. The firm has a market cap of $55.76 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 0.40 and a beta of 0.28.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its 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 the consensus estimate of $3.60 billion. During the same period in the previous year, the business earned $0.32 earnings per share. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. Equities research analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining’s dividend payout ratio is 37.74%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. CIBC lifted their target price on shares of Barrick Mining from $38.00 to $50.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. TD Securities raised their price target on Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. National Bank Financial raised Barrick Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 22nd. Royal Bank Of Canada increased their target price on Barrick Mining from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Finally, Raymond James Financial set a $40.00 price target on Barrick Mining and gave the stock an “outperform” rating in a report on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.90.

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.