Kovack Advisors Inc. Cuts Position in Barrick Mining Corporation (NYSE:B)

Kovack Advisors Inc. trimmed its position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 18.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,327 shares of the gold and copper producer’s stock after selling 4,486 shares during the period. Kovack Advisors Inc.’s holdings in Barrick Mining were worth $376,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in B. Vanguard Group Inc. lifted its position in Barrick Mining by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 68,358,533 shares of the gold and copper producer’s stock worth $1,060,036,000 after acquiring an additional 1,195,585 shares during the period. Wellington Management Group LLP raised its stake in shares of Barrick Mining by 17.5% in the fourth quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer’s stock worth $996,802,000 after purchasing an additional 9,598,292 shares during the last quarter. Capital International Investors lifted its holdings in shares of Barrick Mining by 136.1% during the fourth quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer’s stock worth $516,055,000 after purchasing an additional 19,189,830 shares during the period. Mackenzie Financial Corp boosted its position in Barrick Mining by 1.9% in the fourth quarter. Mackenzie Financial Corp now owns 15,318,376 shares of the gold and copper producer’s stock valued at $237,280,000 after buying an additional 278,292 shares during the last quarter. Finally, Causeway Capital Management LLC acquired a new position in Barrick Mining in the 4th quarter worth approximately $172,225,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

B has been the subject of several recent research reports. CIBC raised their target price on Barrick Mining from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. National Bankshares reaffirmed an “outperform” rating on shares of Barrick Mining in a research note on Wednesday, April 2nd. UBS Group boosted their target price on shares of Barrick Mining from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Wall Street Zen upgraded shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 5th. Finally, BMO Capital Markets initiated coverage on shares of Barrick Mining in a report on Wednesday, April 16th. They issued a “market perform” rating for the company. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.41.

Barrick Mining Stock Up 1.1%

B stock opened at $21.78 on Friday. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $21.95. The company has a current ratio of 2.87, a quick ratio of 2.16 and a debt-to-equity ratio of 0.14. The company has a market cap of $37.15 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 0.33 and a beta of 0.28. The firm has a 50-day moving average of $20.54 and a two-hundred day moving average of $18.96.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the company posted $0.19 EPS. The company’s quarterly revenue was up 13.9% on a year-over-year basis. As a group, analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.84%. The ex-dividend date was Friday, May 30th. Barrick Mining’s payout ratio is currently 30.08%.

Barrick Mining Company Profile

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.