Crowley Wealth Management Inc. Makes New Investment in Barrick Mining Corporation $B

Crowley Wealth Management Inc. 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 SEC. The firm bought 1,250 shares of the gold and copper producer’s stock, valued at approximately $26,000.

A number of other large investors have also recently modified their holdings of B. SJS Investment Consulting Inc. bought a new stake in shares of Barrick Mining during the 2nd quarter valued at about $29,000. Nexus Investment Management ULC bought a new stake in shares of Barrick Mining during the 1st quarter valued at about $32,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Barrick Mining during the 1st quarter valued at about $32,000. Ameriflex Group Inc. bought a new stake in shares of Barrick Mining during the 4th quarter valued at about $39,000. Finally, AdvisorNet Financial Inc bought a new stake in shares of Barrick Mining during the 2nd quarter valued at about $39,000. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Price Performance

B opened at $34.30 on Friday. 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 Corporation has a 52-week low of $15.11 and a 52-week high of $36.10. The stock has a market capitalization of $58.41 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 0.59 and a beta of 0.28. The stock’s 50 day moving average price is $25.91 and its 200-day moving average price is $21.82.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.60 billion. During the same period in the previous year, the firm earned $0.32 earnings per share. The business’s 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 EPS for the current year.

Barrick Mining Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders 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 dividend yield of 1.7%. Barrick Mining’s payout ratio is 37.74%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on B. Wall Street Zen downgraded Barrick Mining from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Sanford C. Bernstein restated an “outperform” rating on shares of Barrick Mining in a research report on Wednesday. National Bankshares upgraded Barrick Mining to an “outperform” rating in a research report on Monday. CIBC restated an “outperform” rating on shares of Barrick Mining in a research report on Monday. Finally, UBS Group boosted their target price on Barrick Mining from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

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.