Glass Wealth Management Co LLC Has $6.88 Million Stake in Barrick Mining Corporation $B

Glass Wealth Management Co LLC lifted its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 9.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 209,905 shares of the gold and copper producer’s stock after purchasing an additional 18,680 shares during the quarter. Barrick Mining comprises 3.1% of Glass Wealth Management Co LLC’s portfolio, making the stock its 9th biggest holding. Glass Wealth Management Co LLC’s holdings in Barrick Mining were worth $6,879,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. purchased a new position in Barrick Mining during the second quarter valued at approximately $1,459,633,000. Measured Wealth Private Client Group LLC bought a new stake in Barrick Mining during the 2nd quarter valued at $696,000. Philadelphia Trust Co. purchased a new position in shares of Barrick Mining in the 2nd quarter valued at $1,412,000. Cadence Wealth Management LLC purchased a new position in shares of Barrick Mining in the 2nd quarter valued at $1,112,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Barrick Mining in the 2nd quarter worth $30,641,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Performance

Shares of Barrick Mining stock opened at $44.03 on Monday. The company has a 50 day moving average price of $39.49 and a 200 day moving average price of $31.08. The firm has a market capitalization of $74.13 billion, a P/E ratio of 21.27, a PEG ratio of 0.30 and a beta of 0.41. The company has a quick ratio of 2.33, a current ratio of 2.94 and a debt-to-equity ratio of 0.14. Barrick Mining Corporation has a 52 week low of $15.31 and a 52 week high of $46.45.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The business had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same quarter in the prior year, the business posted $0.09 EPS. Barrick Mining’s revenue for the quarter was up 23.2% compared to the same quarter last year. Sell-side analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a $0.175 dividend. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, November 28th. This represents a $0.70 dividend on an annualized basis and a yield of 1.6%. Barrick Mining’s dividend payout ratio (DPR) is 33.82%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on B shares. BMO Capital Markets reaffirmed a “market perform” rating on shares of Barrick Mining in a research report on Monday, September 22nd. Raymond James Financial raised their price target on shares of Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, November 25th. Bank of America raised shares of Barrick Mining from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $38.00 to $48.00 in a research report on Monday, November 24th. Jefferies Financial Group restated a “buy” rating and issued a $55.00 target price on shares of Barrick Mining in a research note on Sunday, December 7th. Finally, CIBC lifted their price target on shares of Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $47.17.

Barrick Mining Profile

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.