Guggenheim Capital LLC Makes New $13.52 Million Investment in Barrick Mining Corporation $B

Guggenheim Capital LLC bought a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 649,281 shares of the gold and copper producer’s stock, valued at approximately $13,518,000.

Other institutional investors have also modified their holdings of the company. Vermillion Wealth Management Inc. acquired a new stake in Barrick Mining during the second quarter worth about $25,000. Crowley Wealth Management Inc. acquired a new position in Barrick Mining in the second quarter valued at approximately $26,000. Concord Wealth Partners acquired a new stake in Barrick Mining during the second quarter worth $26,000. Ameriflex Group Inc. purchased a new stake in Barrick Mining in the second quarter valued at $27,000. Finally, Trifecta Capital Advisors LLC purchased a new position in shares of Barrick Mining during the 2nd quarter worth $27,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on B. Cormark upgraded shares of Barrick Mining from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 11th. Canaccord Genuity Group boosted their target price on Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. CIBC raised their price target on Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Cibc World Mkts raised Barrick Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Finally, Cowen reissued a “buy” rating on shares of Barrick Mining in a research note on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $46.10.

Barrick Mining Trading Up 1.0%

NYSE:B opened at $40.90 on Friday. The stock has a 50-day simple moving average of $35.20 and a 200-day simple moving average of $27.46. The stock has a market cap of $69.02 billion, a P/E ratio of 19.76, a P/E/G ratio of 0.42 and a beta of 0.40. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $43.08. 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 issued its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. The business had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.20 billion. Barrick Mining had a return on equity of 9.48% and a net margin of 24.53%.The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the company earned $0.09 EPS. As a group, analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a dividend of $0.175 per share. The ex-dividend date is Friday, November 28th. This represents a $0.70 annualized dividend and a yield of 1.7%. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s dividend payout ratio (DPR) is 33.82%.

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.