Stratos Wealth Advisors LLC Makes New $302,000 Investment in Barrick Mining Corporation $B

Stratos Wealth Advisors LLC bought a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 14,515 shares of the gold and copper producer’s stock, valued at approximately $302,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vermillion Wealth Management Inc. bought a new position in shares of Barrick Mining during the 2nd quarter worth about $25,000. Crowley Wealth Management Inc. acquired a new position in shares of Barrick Mining during the second quarter valued at about $26,000. Concord Wealth Partners acquired a new position in shares of Barrick Mining during the second quarter valued at about $26,000. Ameriflex Group Inc. acquired a new position in shares of Barrick Mining during the second quarter valued at about $27,000. Finally, Trifecta Capital Advisors LLC acquired a new position in shares of Barrick Mining during the second quarter valued at about $27,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Stock Performance

NYSE B opened at $33.41 on Monday. The stock has a market cap of $56.88 billion, a P/E ratio of 21.01, a PEG ratio of 0.42 and a beta of 0.30. The company’s 50-day simple moving average is $29.71 and its 200 day simple moving average is $23.49. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $36.40. 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 posted its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. The business 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 firm’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 earnings per share. As a group, 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 disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining’s dividend payout ratio is currently 37.74%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on B. Royal Bank Of Canada upped their price objective on shares of Barrick Mining from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. CIBC upped their price objective on shares of Barrick Mining from $38.00 to $50.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. TD Securities upped their price objective on shares of Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Barrick Mining in a research report on Monday, September 22nd. Finally, Wall Street Zen raised shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.00.

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.