Ashton Thomas Private Wealth LLC Buys New Position in Barrick Mining Corporation $B

Ashton Thomas Private Wealth LLC bought a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 165,294 shares of the gold and copper producer’s stock, valued at approximately $3,441,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vermillion Wealth Management Inc. bought a new stake in shares of Barrick Mining during the 2nd quarter valued at about $25,000. Concord Wealth Partners bought a new stake in shares of Barrick Mining during the 2nd quarter valued at about $26,000. Crowley Wealth Management Inc. bought a new stake in shares of Barrick Mining during the 2nd quarter valued at about $26,000. Ameriflex Group Inc. bought a new stake in shares of Barrick Mining during the 2nd quarter valued at about $27,000. Finally, Trifecta Capital Advisors LLC bought a new position in Barrick Mining in the second quarter worth approximately $27,000. Institutional investors own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. National Bankshares upgraded Barrick Mining to an “outperform” rating in a report on Monday, September 22nd. Citigroup increased their price target on Barrick Mining from $21.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Scotiabank upgraded Barrick Mining from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $27.50 to $43.00 in a report on Thursday, October 23rd. Zacks Research lowered Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Barrick Mining in a report on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Barrick Mining presently has an average rating of “Moderate Buy” and a consensus price target of $42.90.

Barrick Mining Stock Down 2.1%

B stock opened at $31.79 on Tuesday. 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. The stock’s 50 day moving average is $30.75 and its 200-day moving average is $24.09. The firm has a market capitalization of $54.13 billion, a PE ratio of 19.99, a P/E/G ratio of 0.41 and a beta of 0.30.

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. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same quarter last year, the company earned $0.32 earnings per share. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. Sell-side analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, August 29th. Barrick Mining’s dividend payout ratio (DPR) is 37.74%.

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.