Checchi Capital Advisers LLC Buys Shares of 10,645 Barrick Mining Corporation $B

Checchi Capital Advisers LLC acquired a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,645 shares of the gold and copper producer’s stock, valued at approximately $222,000.

Other institutional investors have also made changes to their positions in the company. Vermillion Wealth Management Inc. bought a new position in shares of Barrick Mining in the second quarter worth about $25,000. Crowley Wealth Management Inc. bought a new position in shares of Barrick Mining in the second quarter worth about $26,000. Ameriflex Group Inc. bought a new position in shares of Barrick Mining in the second quarter worth about $27,000. SJS Investment Consulting Inc. bought a new position in shares of Barrick Mining in the second quarter worth about $29,000. Finally, Cary Street Partners Investment Advisory LLC bought a new position in shares of Barrick Mining in the first quarter worth about $32,000. 90.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. UBS Group lifted their price objective on Barrick Mining from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Cibc World Mkts upgraded Barrick Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Bank of America lifted their price objective on Barrick Mining from $29.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, September 19th. BMO Capital Markets restated a “market perform” rating on shares of Barrick Mining in a research note on Monday, September 22nd. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Barrick Mining in a research note on Wednesday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $33.33.

Barrick Mining Trading Down 2.5%

Shares of B opened at $33.19 on Wednesday. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $36.10. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $56.52 billion, a price-to-earnings ratio of 20.87, a P/E/G ratio of 0.56 and a beta of 0.30. The stock’s 50-day moving average price is $27.86 and its 200 day moving average price is $22.66.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period in the previous year, the company posted $0.32 earnings per share. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. As a group, research analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, August 29th. Barrick Mining’s dividend payout ratio is currently 37.74%.

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.