Trifecta Capital Advisors LLC Makes New Investment in Barrick Mining Corporation $B

Trifecta Capital Advisors LLC bought a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,300 shares of the gold and copper producer’s stock, valued at approximately $27,000.

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 Barrick Mining in the 2nd quarter worth about $25,000. Crowley Wealth Management Inc. bought a new position in Barrick Mining in the 2nd quarter worth about $26,000. Ameriflex Group Inc. bought a new position in Barrick Mining in the 2nd quarter worth about $27,000. SJS Investment Consulting Inc. bought a new position in Barrick Mining in the 2nd quarter worth about $29,000. Finally, Cary Street Partners Investment Advisory LLC bought a new position in Barrick Mining in the 1st quarter worth about $32,000. Institutional investors own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on B. TD Securities upped their target price on shares of Barrick Mining from $38.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank Of Canada upped their price target on shares of Barrick Mining from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Raymond James Financial upped their price target on shares of Barrick Mining from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Wall Street Zen lowered shares of Barrick Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, CIBC reaffirmed an “outperform” rating on shares of Barrick Mining in a research note on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $34.22.

Barrick Mining Stock Up 2.0%

B stock opened at $33.90 on Thursday. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $36.10. The firm has a market cap of $57.72 billion, a PE ratio of 21.32, a P/E/G ratio of 0.55 and a beta of 0.30. The firm has a 50 day simple moving average of $28.12 and a 200 day simple moving average of $22.74. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53.

Barrick Mining (NYSE:B) (TSE:ABX) last released its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same period in the prior year, the business earned $0.32 earnings per share. The business’s quarterly revenue was up 16.4% on a year-over-year basis. 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 firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 annualized dividend and a yield of 1.8%. Barrick Mining’s dividend payout ratio is currently 37.74%.

About Barrick Mining

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.