Signaturefd LLC Buys New Position in Barrick Mining Corporation $B

Signaturefd LLC bought a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 30,773 shares of the gold and copper producer’s stock, valued at approximately $641,000.

Several other hedge funds also recently made changes to their positions in the business. Crowley Wealth Management Inc. bought a new stake in shares of Barrick Mining in the second quarter worth $26,000. SJS Investment Consulting Inc. acquired a new stake in Barrick Mining in the 2nd quarter valued at $29,000. Cary Street Partners Investment Advisory LLC acquired a new stake in Barrick Mining in the 1st quarter valued at $32,000. AdvisorNet Financial Inc bought a new stake in Barrick Mining during the 2nd quarter worth about $39,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Barrick Mining by 55.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer’s stock worth $43,000 after buying an additional 785 shares during the last quarter. 90.82% of the stock is owned by institutional investors.

Barrick Mining Stock Down 1.1%

B stock opened at $32.78 on Wednesday. Barrick Mining Corporation has a 1-year low of $15.11 and a 1-year high of $36.10. The business’s 50 day simple moving average is $26.64 and its 200 day simple moving average is $22.15. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $55.82 billion, a PE ratio of 20.62, a PEG ratio of 0.58 and a beta of 0.28.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter last year, the firm posted $0.32 EPS. The company’s quarterly revenue was up 16.4% on a year-over-year basis. As a group, research analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on B. Cibc World Mkts raised Barrick Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. TD Securities boosted their price target on Barrick Mining from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Zacks Research cut Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. UBS Group raised their target price on shares of Barrick Mining from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Finally, National Bank Financial upgraded shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Barrick Mining currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

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.