Moran Wealth Management LLC Buys Shares of 202,524 Barrick Mining Corporation $B

Moran Wealth Management LLC bought a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 202,524 shares of the gold and copper producer’s stock, valued at approximately $4,217,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Penserra Capital Management LLC boosted its stake in Barrick Mining by 1,919.0% in the first quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer’s stock valued at $56,000 after acquiring an additional 2,821 shares during the period. Hedges Asset Management LLC acquired a new position in Barrick Mining in the second quarter valued at approximately $1,249,000. Chemistry Wealth Management LLC acquired a new position in Barrick Mining in the second quarter valued at approximately $246,000. Sequoia Financial Advisors LLC boosted its stake in Barrick Mining by 24.4% in the first quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer’s stock valued at $404,000 after acquiring an additional 4,082 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in Barrick Mining by 25.9% in the first quarter. Janney Montgomery Scott LLC now owns 291,281 shares of the gold and copper producer’s stock valued at $5,663,000 after acquiring an additional 59,906 shares during the period. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

B has been the topic of a number of recent analyst reports. Zacks Research cut Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Barrick Mining in a report on Wednesday, September 24th. Bank of America lifted their price target on Barrick Mining from $29.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, September 19th. Cibc World Mkts raised Barrick Mining from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Finally, CIBC lifted their price target on Barrick Mining from $38.00 to $50.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.10.

Barrick Mining Price Performance

Shares of NYSE:B opened at $33.34 on Wednesday. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $36.10. The stock has a market cap of $56.77 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 0.55 and a beta of 0.30. The stock’s 50 day moving average price is $29.02 and its 200 day moving average price is $23.15. 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 (NYSE:B) (TSE:ABX) last announced its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, hitting 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 quarter in the previous year, the company earned $0.32 earnings per share. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. Equities research analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

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