JNBA Financial Advisors Invests $74,000 in Barrick Mining Corporation $B

JNBA Financial Advisors acquired a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,556 shares of the gold and copper producer’s stock, valued at approximately $74,000.

Other institutional investors also recently modified their holdings of the company. Vermillion Wealth Management Inc. acquired a new stake in shares of Barrick Mining during the 2nd quarter worth approximately $25,000. Crowley Wealth Management Inc. acquired a new stake in shares of Barrick Mining during the 2nd quarter worth approximately $26,000. Ameriflex Group Inc. acquired a new stake in shares of Barrick Mining during the 2nd quarter worth approximately $27,000. Trifecta Capital Advisors LLC acquired a new stake in shares of Barrick Mining during the 2nd quarter worth approximately $27,000. Finally, SJS Investment Consulting Inc. acquired a new stake in Barrick Mining in the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Price Performance

Barrick Mining stock opened at $32.73 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. The firm has a market cap of $55.72 billion, a P/E ratio of 20.58, a P/E/G ratio of 0.54 and a beta of 0.30. The business’s fifty day moving average is $28.58 and its two-hundred day moving average is $22.95. Barrick Mining Corporation has a 52 week low of $15.11 and a 52 week high of $36.10.

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 business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. Equities research analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

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

Wall Street Analysts Forecast Growth

B has been the topic of several recent analyst reports. Canaccord Genuity Group boosted their price target on Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank Of Canada boosted their price target on Barrick Mining from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. National Bank Financial raised Barrick Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 22nd. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Barrick Mining in a research note on Wednesday, September 24th. Finally, CIBC boosted their price target on Barrick Mining from $38.00 to $50.00 and gave the company an “outperformer” rating in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.10.

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.