Barrick Mining Corporation (NYSE:B) Announces Dividend Increase – $0.42 Per Share

Barrick Mining Corporation (NYSE:B) (TSE:ABX) announced a quarterly dividend on Thursday, February 5th. Investors of record on Friday, February 27th will be given a dividend of 0.42 per share by the gold and copper producer on Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, February 27th. This is a 140.0% increase from Barrick Mining’s previous quarterly dividend of $0.18.

Barrick Mining has raised its dividend payment by an average of 0.2%annually over the last three years. Barrick Mining has a payout ratio of 31.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Barrick Mining to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 45.2%.

Barrick Mining Price Performance

Shares of B traded down $3.56 during mid-day trading on Thursday, reaching $43.80. The company had a trading volume of 26,724,188 shares, compared to its average volume of 17,357,674. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.94 and a quick ratio of 2.33. The company’s 50-day moving average is $45.80 and its 200-day moving average is $35.50. Barrick Mining has a twelve month low of $16.92 and a twelve month high of $54.69. The company has a market capitalization of $73.37 billion, a P/E ratio of 21.16, a P/E/G ratio of 0.39 and a beta of 0.40.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, beating the consensus estimate of $0.89 by $0.15. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The firm’s revenue for the quarter was up 44.6% on a year-over-year basis. On average, equities analysts anticipate that Barrick Mining will post 1.47 EPS for the current year.

Institutional Investors Weigh In On Barrick Mining

A number of institutional investors and hedge funds have recently modified their holdings of the company. Financial Consulate Inc. grew its holdings in Barrick Mining by 1,042.0% during the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after purchasing an additional 521 shares during the period. Westside Investment Management Inc. acquired a new stake in shares of Barrick Mining in the fourth quarter valued at approximately $25,000. Concord Wealth Partners bought a new position in shares of Barrick Mining during the 2nd quarter worth approximately $26,000. Arlington Trust Co LLC acquired a new position in shares of Barrick Mining during the 3rd quarter worth approximately $26,000. Finally, Trifecta Capital Advisors LLC bought a new stake in Barrick Mining in the 2nd quarter valued at $27,000. 90.82% of the stock is owned by institutional investors.

About Barrick Mining

Barrick Gold Corporation, commonly known as Barrick, is a Toronto?headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large?scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.

The company’s activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.