Concurrent Investment Advisors LLC Takes $337,000 Position in Barrick Mining Corporation $B

Concurrent Investment Advisors LLC acquired a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 16,179 shares of the gold and copper producer’s stock, valued at approximately $337,000.

Other large investors also recently modified their holdings of the company. Vermillion Wealth Management Inc. bought a new stake in shares of Barrick Mining in the 2nd quarter valued at approximately $25,000. Crowley Wealth Management Inc. bought a new stake in shares of Barrick Mining in the 2nd quarter valued at approximately $26,000. Ameriflex Group Inc. bought a new stake in shares of Barrick Mining in the 2nd quarter valued at approximately $27,000. Trifecta Capital Advisors LLC bought a new stake in shares of Barrick Mining in the 2nd quarter valued at approximately $27,000. Finally, SJS Investment Consulting Inc. bought a new stake in Barrick Mining during the 2nd quarter worth approximately $29,000. 90.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

B has been the topic of a number of research analyst reports. Citigroup increased their price target on Barrick Mining from $21.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday. Raymond James Financial set a $40.00 price target on Barrick Mining and gave the stock an “outperform” rating in a research report on Friday, October 10th. National Bankshares upgraded Barrick Mining to an “outperform” rating in a research report on Monday, September 22nd. Scotiabank increased their price target on Barrick Mining from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 13th. Finally, UBS Group increased their price target on Barrick Mining from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.00.

Barrick Mining Stock Down 6.3%

Shares of B opened at $33.41 on Monday. The firm has a market capitalization of $56.88 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 0.42 and a beta of 0.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. The business’s fifty day moving average price is $29.71 and its two-hundred day moving average price is $23.49. Barrick Mining Corporation has a 52 week low of $15.11 and a 52 week high of $36.40.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the company earned $0.32 EPS. On average, analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, August 29th. Barrick Mining’s dividend payout ratio (DPR) is presently 37.74%.

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.