5,354,693 Shares in Barrick Mining Corporation $B Purchased by The Manufacturers Life Insurance Company

by · The Cerbat Gem

The Manufacturers Life Insurance Company purchased a new stake in Barrick Mining Corporation (NYSE:B – Free Report) (TSE:ABX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,354,693 shares of the gold and copper producer’s stock, valued at approximately $111,175,000.

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

Barrick Mining Stock Up 3.4%

Barrick Mining stock opened at $43.16 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.33 and a current ratio of 2.94. Barrick Mining Corporation has a one year low of $15.11 and a one year high of $43.94. The company has a 50-day simple moving average of $35.97 and a 200-day simple moving average of $28.24. The firm has a market capitalization of $72.67 billion, a P/E ratio of 20.85, a P/E/G ratio of 0.43 and a beta of 0.40.

Barrick Mining (NYSE:B – Get Free Report) (TSE:ABX) last posted its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same period in the previous year, the business posted $0.09 EPS. Barrick Mining’s revenue was up 23.2% on a year-over-year basis. As a group, equities analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be given a dividend of $0.175 per share. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, November 28th. Barrick Mining’s payout ratio is presently 33.82%.

Analysts Set New Price Targets

B has been the subject of several research analyst reports. CIBC boosted their target price on shares of Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Citigroup upgraded Barrick Mining from a “hold” rating to a “buy” rating in a report on Monday, November 24th. Zacks Research cut Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. BMO Capital Markets reiterated a “market perform” rating on shares of Barrick Mining in a research note on Monday, September 22nd. Finally, Jefferies Financial Group restated a “buy” rating and issued a $55.00 price target on shares of Barrick Mining in a research report on Sunday. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.17.

Check Out Our Latest Stock Report on B

Barrick Mining Company Profile

(Free Report)

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.

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