Jackson Grant Investment Advisers Inc. Takes $41,000 Position in Barrick Mining Corporation $B

Jackson Grant Investment Advisers Inc. bought a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,946 shares of the gold and copper producer’s stock, valued at approximately $41,000.

Several other large investors have also recently bought and sold shares of the stock. Klein Pavlis & Peasley Financial Inc. acquired a new stake in Barrick Mining in the 2nd quarter worth $1,760,000. Vermillion Wealth Management Inc. acquired a new stake in Barrick Mining during the second quarter worth about $25,000. Uncommon Cents Investing LLC bought a new position in Barrick Mining during the second quarter valued at about $2,433,000. Sage Rhino Capital LLC acquired a new position in Barrick Mining in the 2nd quarter valued at approximately $681,000. Finally, Signaturefd LLC bought a new stake in shares of Barrick Mining in the 2nd quarter worth approximately $641,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barrick Mining Trading Up 0.6%

Shares of Barrick Mining stock opened at $34.47 on Monday. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $36.10. The stock has a market capitalization of $58.70 billion, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 0.60 and a beta of 0.27. The company has a 50-day simple moving average of $26.18 and a 200 day simple moving average of $21.98. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.60 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. Research analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a yield of 1.7%. Barrick Mining’s payout ratio is currently 37.74%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on B shares. Royal Bank Of Canada boosted their price objective on Barrick Mining from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. BMO Capital Markets reissued a “market perform” rating on shares of Barrick Mining in a report on Monday, September 22nd. Cibc World Mkts raised shares of Barrick Mining from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. UBS Group upped their target price on shares of Barrick Mining from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Finally, Raymond James Financial increased their price target on shares of Barrick Mining from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

Barrick Mining 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.