Drive Wealth Management LLC Makes New Investment in Barrick Mining Corporation $B

Drive Wealth Management LLC purchased a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the third quarter, according to its most recent filing with the SEC. The firm purchased 10,514 shares of the gold and copper producer’s stock, valued at approximately $345,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Capital Wealth Advisors acquired a new stake in Barrick Mining in the 3rd quarter valued at about $402,000. Hara Capital LLC increased its stake in Barrick Mining by 11.2% in the third quarter. Hara Capital LLC now owns 30,923 shares of the gold and copper producer’s stock valued at $1,013,000 after purchasing an additional 3,114 shares during the last quarter. Andina Capital Management LLC acquired a new stake in shares of Barrick Mining in the third quarter worth approximately $217,000. Lee Danner & Bass Inc. purchased a new position in shares of Barrick Mining in the 3rd quarter worth $255,000. Finally, Arkadios Wealth Advisors acquired a new stake in Barrick Mining during the third quarter worth about $256,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Barrick Mining Stock Up 3.6%

B stock opened at $51.04 on Friday. The firm has a market cap of $85.50 billion, a PE ratio of 24.65, a P/E/G ratio of 0.43 and a beta of 0.41. Barrick Mining Corporation has a 12 month low of $15.70 and a 12 month high of $51.09. The firm has a 50 day simple moving average of $43.98 and a 200 day simple moving average of $33.91. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.94 and a quick ratio of 2.33.

Barrick Mining (NYSE:B) (TSE:ABX) last released 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 business had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.20 billion. Barrick Mining had a return on equity of 9.48% and a net margin of 24.53%.The company’s revenue was up 23.2% compared to the same quarter last year. During the same period last year, the company posted $0.09 EPS. Equities research analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

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

Analysts Set New Price Targets

B has been the topic of several recent research reports. CIBC lifted their target price on shares of Barrick Mining from $38.00 to $50.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Citigroup raised shares of Barrick Mining from a “hold” rating to a “buy” rating in a report on Monday, November 24th. TD Securities lifted their target price on Barrick Mining from $38.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Scotiabank raised shares of Barrick Mining from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $27.50 to $43.00 in a report on Thursday, October 23rd. Finally, Cormark upgraded Barrick Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 11th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Barrick Mining has a consensus rating of “Buy” and a consensus price target of $46.91.

About Barrick Mining

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.