Barrick Mining Corporation (NYSE:B) Short Interest Update

Barrick Mining Corporation (NYSE:B) (TSE:ABX) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 16,279,526 shares, a drop of 41.5% from the August 31st total of 27,851,784 shares. Based on an average daily volume of 8,499,761 shares, the short-interest ratio is currently 1.9 days. Currently, 1.0% of the shares of the stock are short sold.

Hedge Funds Weigh In On Barrick Mining

Hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its holdings in Barrick Mining by 14.5% during the 3rd quarter. Versant Capital Management Inc now owns 7,559 shares of the gold and copper producer’s stock worth $308,000 after acquiring an additional 958 shares during the last quarter. QRG Capital Management Inc. boosted its stake in Barrick Mining by 5.3% in the second quarter. QRG Capital Management Inc. now owns 16,005 shares of the gold and copper producer’s stock valued at $588,000 after acquiring an additional 801 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in Barrick Mining by 7.0% in the second quarter. Sequoia Financial Advisors LLC now owns 38,490 shares of the gold and copper producer’s stock valued at $1,414,000 after purchasing an additional 2,510 shares during the last quarter. Engineers Gate Manager LP lifted its position in shares of Barrick Mining by 17.5% during the 2nd quarter. Engineers Gate Manager LP now owns 490,619 shares of the gold and copper producer’s stock valued at $18,020,000 after buying an additional 73,226 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its position in Barrick Mining by 13.9% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 13,229 shares of the gold and copper producer’s stock worth $486,000 after purchasing an additional 1,617 shares during the period. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Trading Down 0.5%

Barrick Mining stock traded down $0.21 during trading hours on Friday, reaching $39.89. 2,801,399 shares of the company’s stock were exchanged, compared to its average volume of 12,531,262. The firm has a market capitalization of $65.22 billion, a PE ratio of 10.29, a PEG ratio of 1.19 and a beta of 0.48. The firm’s 50 day simple moving average is $42.49 and its 200 day simple moving average is $40.87. The company has a quick ratio of 2.36, a current ratio of 3.01 and a debt-to-equity ratio of 0.13. Barrick Mining has a twelve month low of $30.35 and a twelve month high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%.The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period in the previous year, the firm earned $0.47 earnings per share. The company’s revenue was up 43.8% compared to the same quarter last year. Research analysts predict that Barrick Mining will post 3.48 earnings per share for the current year.

Barrick Mining Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were issued a $0.1750 dividend. The ex-dividend date was Monday, August 31st. This represents a $0.70 annualized dividend and a yield of 1.8%. Barrick Mining’s dividend payout ratio is presently 18.04%.

Wall Street Analyst Weigh In

Several research analysts have commented on B shares. Royal Bank Of Canada boosted their price objective on shares of Barrick Mining from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, September 16th. Citigroup lifted their target price on Barrick Mining from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. UBS Group lowered their target price on Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Barrick Mining in a research report on Friday, August 7th. Finally, Wall Street Zen downgraded Barrick Mining from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.90.

About Barrick Mining

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the exploration, development and production of gold and copper. Its activities include operating mines, advancing development projects and managing mineral reserves across multiple jurisdictions.

The company’s gold operations include Nevada Gold Mines in the United States, a joint venture in which Barrick is the operator, as well as mines and projects in Canada, the Dominican Republic, Mali, Côte d’Ivoire, Tanzania and the Democratic Republic of the Congo.