Groupe la Francaise Invests $387,000 in Barrick Mining Corporation $B

Groupe la Francaise bought a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the second quarter, HoldingsChannel.com reports. The fund bought 18,589 shares of the gold and copper producer’s stock, valued at approximately $387,000.

Several other institutional investors have also recently bought and sold shares of the company. Vermillion Wealth Management Inc. bought a new position in shares of Barrick Mining during the 2nd quarter worth 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 acquired a new position in Barrick Mining during the second quarter worth $26,000. Ameriflex Group Inc. bought a new position in Barrick Mining in the second quarter valued at $27,000. Finally, Trifecta Capital Advisors LLC bought a new position in Barrick Mining in the second quarter valued at $27,000. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Up 1.0%

Shares of B stock opened at $40.90 on Friday. Barrick Mining Corporation has a 52-week low of $15.11 and a 52-week high of $43.08. The stock has a market cap of $69.02 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 0.42 and a beta of 0.40. The firm’s 50-day moving average is $35.20 and its 200-day moving average is $27.46. 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 (NYSE:B) (TSE:ABX) last announced its quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a return on equity of 9.48% and a net margin of 24.53%.The firm had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter in the previous year, the business earned $0.09 earnings per share. The business’s revenue was up 23.2% compared to the same quarter last year. Sell-side analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.70 annualized dividend and a yield of 1.7%. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s payout ratio is 33.82%.

Analysts Set New Price Targets

Several brokerages have commented on B. National Bank Financial raised shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 22nd. Scotiabank raised Barrick Mining from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $27.50 to $43.00 in a research report on Thursday, October 23rd. National Bankshares upgraded Barrick Mining to an “outperform” rating in a report on Monday, September 22nd. CIBC increased their price target on Barrick Mining from $38.00 to $50.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Finally, Zacks Research lowered Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Barrick Mining has a consensus rating of “Buy” and a consensus target price of $45.67.

Barrick Mining Company 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.