Valley National Advisers Inc. Invests $135,000 in Barrick Mining Corporation $B

Valley National Advisers Inc. bought a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,530 shares of the gold and copper producer’s stock, valued at approximately $135,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Farther Finance Advisors LLC grew its position in shares of Barrick Mining by 21.8% in the 1st quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer’s stock worth $62,000 after buying an additional 563 shares during the last quarter. Sapient Capital LLC lifted its stake in Barrick Mining by 0.5% in the first quarter. Sapient Capital LLC now owns 114,572 shares of the gold and copper producer’s stock worth $2,227,000 after acquiring an additional 624 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in Barrick Mining by 2.5% in the first quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer’s stock valued at $558,000 after acquiring an additional 710 shares in the last quarter. Nicholas Hoffman & Company LLC. increased its position in Barrick Mining by 1.5% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer’s stock valued at $924,000 after purchasing an additional 716 shares during the period. Finally, Wedbush Securities Inc. raised its holdings in Barrick Mining by 5.9% in the 1st quarter. Wedbush Securities Inc. now owns 18,629 shares of the gold and copper producer’s stock worth $362,000 after purchasing an additional 1,031 shares in the last quarter. Institutional investors own 90.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Zacks Research lowered shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Royal Bank Of Canada raised their price objective on shares of Barrick Mining from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Sanford C. Bernstein reiterated an “outperform” rating on shares of Barrick Mining in a report on Wednesday, September 24th. BMO Capital Markets reissued a “market perform” rating on shares of Barrick Mining in a research report on Monday, September 22nd. Finally, TD Securities raised their target price on Barrick Mining from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $33.33.

Barrick Mining Stock Performance

Barrick Mining stock opened at $34.03 on Tuesday. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $36.10. 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 company has a market capitalization of $57.95 billion, a P/E ratio of 21.40, a PEG ratio of 0.56 and a beta of 0.30. The stock’s 50 day moving average is $27.63 and its 200 day moving average is $22.59.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) 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 business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter in the previous year, the business earned $0.32 earnings per share. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, equities research analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.15 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a yield of 1.8%. Barrick Mining’s payout ratio is presently 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.