Concurrent Investment Advisors LLC Sells 2,921 Shares of Barrick Mining Corporation (NYSE:B)

Concurrent Investment Advisors LLC decreased its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 18.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,099 shares of the gold and copper producer’s stock after selling 2,921 shares during the period. Concurrent Investment Advisors LLC’s holdings in Barrick Mining were worth $255,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. HM Payson & Co. increased its holdings in Barrick Mining by 5,000.0% during the first quarter. HM Payson & Co. now owns 5,100 shares of the gold and copper producer’s stock valued at $99,000 after buying an additional 5,000 shares during the last quarter. Avantax Planning Partners Inc. purchased a new stake in Barrick Mining during the first quarter valued at approximately $211,000. Aurora Private Wealth Inc. purchased a new stake in Barrick Mining during the first quarter valued at approximately $305,000. Checchi Capital Advisers LLC purchased a new stake in Barrick Mining during the first quarter valued at approximately $199,000. Finally, D.A. Davidson & CO. increased its holdings in Barrick Mining by 72.2% during the first quarter. D.A. Davidson & CO. now owns 170,527 shares of the gold and copper producer’s stock valued at $3,315,000 after buying an additional 71,479 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Trading Up 0.7%

B stock opened at $21.22 on Friday. The company has a market capitalization of $36.38 billion, a PE ratio of 15.95, a P/E/G ratio of 0.34 and a beta of 0.28. Barrick Mining Corporation has a 12 month low of $17.41 and a 12 month high of $47.50. The firm’s 50-day moving average is $19.97 and its 200 day moving average is $18.59. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 2.16.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.15 billion. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.19 EPS. On average, research analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a $0.10 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.89%. Barrick Mining’s dividend payout ratio is currently 30.08%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on B shares. Royal Bank Of Canada set a $26.00 price target on shares of Barrick Mining and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Raymond James Financial upped their price target on shares of Barrick Mining from $23.00 to $23.50 and gave the stock an “outperform” rating in a research report on Monday, March 31st. National Bankshares reiterated an “outperform” rating on shares of Barrick Mining in a research report on Wednesday, April 2nd. National Bank Financial upgraded shares of Barrick Mining to a “hold” rating in a research report on Friday, March 21st. Finally, CIBC upped their target price on shares of Barrick Mining from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 11th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Barrick Mining has a consensus rating of “Moderate Buy” and a consensus target price of $24.05.

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.