Laurel Wealth Advisors LLC Acquires New Position in Barrick Mining Corporation $B

Laurel Wealth Advisors LLC bought 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 filing with the SEC. The fund bought 14,574 shares of the gold and copper producer’s stock, valued at approximately $303,000.

A number of other large investors have also modified their holdings of B. XTX Topco Ltd purchased a new stake in shares of Barrick Mining during the 2nd quarter worth $422,000. Edmond DE Rothschild Holding S.A. purchased a new position in Barrick Mining in the 2nd quarter valued at approximately $329,000. Aviso Financial Inc. purchased a new position in Barrick Mining in the 2nd quarter valued at approximately $2,114,000. Steward Partners Investment Advisory LLC acquired a new position in Barrick Mining during the second quarter worth $918,000. Finally, Horizon Kinetics Asset Management LLC purchased a new stake in Barrick Mining during the second quarter worth $221,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Stock Up 2.3%

NYSE B opened at $41.90 on Friday. 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 Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $41.72. The business has a 50 day moving average price of $34.66 and a two-hundred day moving average price of $26.87. The stock has a market cap of $70.71 billion, a PE ratio of 26.35, a P/E/G ratio of 0.40 and a beta of 0.28.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The business had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $4.20 billion. During the same period in the previous year, the company posted $0.09 earnings per share. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, sell-side analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, November 28th. Barrick Mining’s payout ratio is presently 33.82%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Sanford C. Bernstein restated an “outperform” rating on shares of Barrick Mining in a research report on Wednesday, September 24th. Cormark raised shares of Barrick Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 11th. Zacks Research lowered shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. UBS Group increased their target price on Barrick Mining from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a report on Monday, November 24th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $44.78.

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.