Concord Wealth Partners Takes Position in Barrick Mining Corporation $B

Concord Wealth Partners 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 1,229 shares of the gold and copper producer’s stock, valued at approximately $26,000.

Several other large investors also recently modified their holdings of B. Vermillion Wealth Management Inc. bought a new stake in shares of Barrick Mining in the second quarter worth about $25,000. Crowley Wealth Management Inc. bought a new stake in shares of Barrick Mining in the second quarter worth about $26,000. Ameriflex Group Inc. bought a new stake in shares of Barrick Mining in the second quarter worth about $27,000. Trifecta Capital Advisors LLC bought a new stake in shares of Barrick Mining in the second quarter worth about $27,000. Finally, SJS Investment Consulting Inc. bought a new stake in shares of Barrick Mining in the second quarter worth about $29,000. 90.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on B shares. National Bankshares raised Barrick Mining to an “outperform” rating in a research note on Monday, September 22nd. UBS Group raised their price objective on shares of Barrick Mining from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Weiss Ratings restated a “buy (b-)” rating on shares of Barrick Mining in a report on Tuesday. TD Securities raised their price objective on shares of Barrick Mining from $38.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Barrick Mining currently has an average rating of “Moderate Buy” and an average price target of $38.10.

Barrick Mining Stock Performance

Shares of B opened at $33.34 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53. Barrick Mining Corporation has a one year low of $15.11 and a one year high of $36.10. The company has a 50-day simple moving average of $29.02 and a two-hundred day simple moving average of $23.15. The firm has a market capitalization of $56.77 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 0.55 and a beta of 0.30.

Barrick Mining (NYSE:B) (TSE:ABX) last released 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 net margin of 19.99% and a return on equity of 8.19%. The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same period last year, the business earned $0.32 earnings per share. The business’s revenue was up 16.4% on a year-over-year basis. On average, analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current fiscal 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 issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, August 29th. Barrick Mining’s dividend payout ratio (DPR) is presently 37.74%.

About Barrick Mining

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.