AlphaCore Capital LLC Makes New $68,000 Investment in Barrick Mining Corporation $B

AlphaCore Capital LLC purchased a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,275 shares of the gold and copper producer’s stock, valued at approximately $68,000.

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

Analysts Set New Price Targets

Several research firms recently commented on B. Zacks Research lowered shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Weiss Ratings restated a “buy (b)” rating on shares of Barrick Mining in a research report on Monday. Royal Bank Of Canada increased their price objective on Barrick Mining from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. CIBC raised their price objective on Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Finally, Wall Street Zen cut Barrick Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $44.78.

Barrick Mining Stock Up 4.7%

Shares of B opened at $40.97 on Thursday. The business’s fifty day moving average price is $34.26 and its two-hundred day moving average price is $26.54. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. The firm has a market capitalization of $69.14 billion, a price-to-earnings ratio of 25.77, a PEG 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 $41.08.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data 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 firm had revenue of $4.19 billion during 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 company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 EPS. On average, analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

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

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.