Wedbush Securities Inc. Acquires Shares of 12,844 Barrick Mining Corporation $B

Wedbush Securities Inc. bought a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,844 shares of the gold and copper producer’s stock, valued at approximately $267,000.

Other institutional investors have also recently bought and sold shares of the company. First Eagle Investment Management LLC purchased a new position in Barrick Mining in the second quarter valued at approximately $822,056,000. TD Asset Management Inc purchased a new position in shares of Barrick Mining during the 2nd quarter valued at $386,328,000. Ninety One UK Ltd purchased a new stake in shares of Barrick Mining in the 2nd quarter valued at about $326,862,000. ANTIPODES PARTNERS Ltd bought a new position in shares of Barrick Mining in the 2nd quarter worth $169,302,000. Finally, Equity Investment Corp purchased a new stake in Barrick Mining during the second quarter valued at about $89,362,000. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Performance

NYSE:B opened at $37.37 on Thursday. The firm has a market capitalization of $63.06 billion, a PE ratio of 23.46, a PEG ratio of 0.40 and a beta of 0.28. The stock’s fifty day moving average is $32.49 and its 200 day moving average is $25.22. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $37.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21.

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

Barrick Mining Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Friday, November 28th. 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 1.9%. Barrick Mining’s dividend payout ratio is 37.74%.

Wall Street Analyst Weigh In

A number of brokerages have commented on B. CIBC lifted their price target on Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. National Bank Financial upgraded shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, September 22nd. Cormark raised Barrick Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday. UBS Group upped their price objective on Barrick Mining from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Finally, Royal Bank Of Canada boosted their price objective on shares of Barrick Mining from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.90.

Barrick Mining Company 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.