Wealth Enhancement Advisory Services LLC Purchases New Stake in Barrick Mining Corporation $B

Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 82,516 shares of the gold and copper producer’s stock, valued at approximately $1,771,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in B. Cary Street Partners Investment Advisory LLC bought a new position in Barrick Mining in the 1st quarter worth $32,000. MassMutual Private Wealth & Trust FSB raised its stake in Barrick Mining by 55.8% in the first 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 in the last quarter. Financial Management Professionals Inc. raised its stake in Barrick Mining by 94.5% in the first quarter. Financial Management Professionals Inc. now owns 2,433 shares of the gold and copper producer’s stock worth $47,000 after buying an additional 1,182 shares in the last quarter. Continuum Advisory LLC raised its stake in Barrick Mining by 117.7% in the first quarter. Continuum Advisory LLC now owns 2,432 shares of the gold and copper producer’s stock worth $47,000 after buying an additional 1,315 shares in the last quarter. Finally, Penserra Capital Management LLC raised its stake in Barrick Mining by 1,919.0% in the first quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer’s stock worth $56,000 after buying an additional 2,821 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Trading Down 3.9%

Shares of B opened at $33.12 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $36.10. The stock has a market capitalization of $56.40 billion, a PE ratio of 20.83, a P/E/G ratio of 0.60 and a beta of 0.28. The company’s fifty day moving average is $26.42 and its 200 day moving average is $22.08.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The business had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter in the previous year, the business posted $0.32 earnings per share. The business’s revenue was up 16.4% compared to the same quarter last year. Sell-side analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on B. Cibc World Mkts raised shares of Barrick Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Scotiabank increased their price target on shares of Barrick Mining from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 13th. CIBC reissued an “outperform” rating on shares of Barrick Mining in a research note on Monday, September 22nd. TD Securities increased their price target on shares of Barrick Mining from $30.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Finally, National Bankshares upgraded shares of Barrick Mining to an “outperform” rating in a research note on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.33.

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.