Red Door Wealth Management LLC Increases Stock Position in Barrick Mining Corporation $B

Red Door Wealth Management LLC raised its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 50.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 109,785 shares of the gold and copper producer’s stock after purchasing an additional 36,868 shares during the quarter. Red Door Wealth Management LLC’s holdings in Barrick Mining were worth $3,598,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vermillion Wealth Management Inc. acquired a new stake in shares of Barrick Mining during the second quarter worth $25,000. Crowley Wealth Management Inc. acquired a new position in Barrick Mining during the 2nd quarter worth approximately $26,000. Concord Wealth Partners acquired a new stake in shares of Barrick Mining in the 2nd quarter valued at approximately $26,000. Ameriflex Group Inc. acquired a new position in Barrick Mining during the second quarter worth $27,000. Finally, Trifecta Capital Advisors LLC acquired a new stake in Barrick Mining in the second quarter valued at $27,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

B has been the subject of a number of research analyst reports. CIBC increased their target price on shares of Barrick Mining from $38.00 to $50.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Raymond James Financial increased their price objective on shares of Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, November 25th. Jefferies Financial Group reissued a “buy” rating and set a $55.00 price objective on shares of Barrick Mining in a research note on Sunday, December 7th. Bank of America raised Barrick Mining from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $38.00 to $48.00 in a report on Monday, November 24th. Finally, Scotiabank raised shares of Barrick Mining from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $27.50 to $43.00 in a research note on Thursday, October 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $47.17.

Barrick Mining Stock Performance

NYSE B opened at $44.77 on Friday. The firm has a market capitalization of $75.38 billion, a P/E ratio of 21.63, a P/E/G ratio of 0.46 and a beta of 0.40. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.94 and a quick ratio of 2.33. Barrick Mining Corporation has a 1-year low of $15.16 and a 1-year high of $45.43. The business’s 50-day simple moving average is $37.19 and its 200-day simple moving average is $29.32.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The business had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same quarter in the previous year, the business posted $0.09 EPS. The business’s quarterly revenue was up 23.2% on a year-over-year basis. Equities analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were issued a $0.175 dividend. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, November 28th. Barrick Mining’s dividend payout ratio (DPR) is currently 33.82%.

Barrick Mining Profile

Barrick Gold Corporation, commonly known as Barrick, is a Toronto‑headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large‑scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.

The company’s activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.