Moran Wealth Management LLC Acquires 127,542 Shares of Barrick Mining Corporation $B

Moran Wealth Management LLC grew its holdings in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 91.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 267,263 shares of the gold and copper producer’s stock after purchasing an additional 127,542 shares during the period. Moran Wealth Management LLC’s holdings in Barrick Mining were worth $10,889,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Financial Consulate Inc. raised its position in shares of Barrick Mining by 1,042.0% in the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after buying an additional 521 shares in the last quarter. Westside Investment Management Inc. acquired a new stake in Barrick Mining during the fourth quarter worth approximately $25,000. Intesa Sanpaolo Wealth Management acquired a new stake in Barrick Mining during the fourth quarter worth approximately $26,000. JPL Wealth Management LLC bought a new position in Barrick Mining during the 3rd quarter worth $28,000. Finally, Laurel Wealth Advisors LLC bought a new position in Barrick Mining during the 4th quarter worth $30,000. 90.82% of the stock is owned by institutional investors.

Barrick Mining Stock Up 0.0%

Shares of B opened at $38.22 on Friday. Barrick Mining Corporation has a one year low of $20.52 and a one year high of $54.69. The company has a market cap of $63.57 billion, a P/E ratio of 10.56, a P/E/G ratio of 1.09 and a beta of 0.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44. The firm has a 50 day simple moving average of $40.47 and a two-hundred day simple moving average of $43.60.

Barrick Mining (NYSE:B) (TSE:ABX) last released its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.18. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.Barrick Mining’s revenue was up 66.7% compared to the same quarter last year. Research analysts forecast that Barrick Mining Corporation will post 3.78 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, May 29th. Barrick Mining’s dividend payout ratio is currently 19.34%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. ATB Cormark Capital Markets cut Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Weiss Ratings lowered Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Canadian Imperial Bank of Commerce decreased their price target on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 21st. Barclays started coverage on Barrick Mining in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price target for the company. Finally, UBS Group cut their price objective on shares of Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Barrick Mining presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.15.

Barrick Mining Profile

Barrick Gold Corporation, commonly known as Barrick, is a Toronto‑headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large‑scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.

The company’s activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.