Allworth Financial LP Buys Shares of 16,808 Barrick Mining Corporation $B

Allworth Financial LP purchased a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 16,808 shares of the gold and copper producer’s stock, valued at approximately $350,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hedges Asset Management LLC bought a new stake in Barrick Mining during the second quarter valued at approximately $1,249,000. Chemistry Wealth Management LLC purchased a new position in shares of Barrick Mining during the 2nd quarter worth $246,000. First Eagle Investment Management LLC purchased a new position in shares of Barrick Mining during the 2nd quarter worth $822,056,000. Keybank National Association OH purchased a new stake in shares of Barrick Mining in the 2nd quarter worth $362,000. Finally, Sigma Planning Corp bought a new position in Barrick Mining in the 2nd quarter worth $1,306,000. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Trading Up 1.6%

Shares of Barrick Mining stock opened at $37.00 on Monday. The firm has a market cap of $62.43 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 0.40 and a beta of 0.28. Barrick Mining Corporation has a 52-week low of $15.11 and a 52-week high of $37.73. The company’s 50-day simple moving average is $32.84 and its 200-day simple moving average is $25.51. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:B) (TSE:ABX) last released its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. The company had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $4.20 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 EPS. As a group, equities research analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a $0.175 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s payout ratio is 33.82%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. CIBC boosted their price target on Barrick Mining from $38.00 to $50.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Royal Bank Of Canada raised their price objective on Barrick Mining from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. National Bankshares upgraded Barrick Mining to an “outperform” rating in a research note on Monday, September 22nd. TD Securities increased their target price on shares of Barrick Mining from $38.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Barrick Mining in a research note on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.90.

About Barrick Mining

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.