Sequoia Financial Advisors LLC Invests $1.01 Million in Barrick Mining Corporation $B

Sequoia Financial Advisors LLC acquired a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 30,910 shares of the gold and copper producer’s stock, valued at approximately $1,013,000.

A number of other hedge funds have also recently bought and sold shares of B. Vermillion Wealth Management Inc. purchased a new position in shares of Barrick Mining during the 2nd quarter worth $25,000. Crowley Wealth Management Inc. acquired a new position in Barrick Mining in the second quarter valued at $26,000. Concord Wealth Partners purchased a new position in Barrick Mining during the second quarter worth about $26,000. Arlington Trust Co LLC acquired a new stake in Barrick Mining in the 3rd quarter worth about $26,000. Finally, Ameriflex Group Inc. acquired a new stake in Barrick Mining in the 2nd quarter worth about $27,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Price Performance

Barrick Mining stock opened at $51.04 on Friday. The firm has a fifty day moving average of $43.98 and a 200-day moving average of $33.82. Barrick Mining Corporation has a 52-week low of $15.70 and a 52-week high of $51.09. The company has a quick ratio of 2.33, a current ratio of 2.94 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $85.50 billion, a P/E ratio of 24.65, a PEG ratio of 0.42 and a beta of 0.41.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, topping 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 firm had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same period in the prior year, the company earned $0.09 EPS. The firm’s revenue was up 23.2% on a year-over-year basis. As a group, analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, November 28th. Barrick Mining’s payout ratio is 33.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Bank of America raised shares of Barrick Mining from a “neutral” rating to a “buy” rating and upped their price objective for the company from $38.00 to $48.00 in a research note on Monday, November 24th. Wall Street Zen lowered shares of Barrick Mining from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Royal Bank Of Canada lifted their price target on shares of Barrick Mining from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, October 27th. UBS Group boosted their price objective on shares of Barrick Mining from $39.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Finally, DZ Bank raised Barrick Mining to a “strong-buy” rating in a research report on Monday, January 19th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $46.91.

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.