Bogart Wealth LLC Makes New $130,000 Investment in Barrick Mining Corporation $B

Bogart Wealth LLC acquired a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,224 shares of the gold and copper producer’s stock, valued at approximately $130,000.

A number of other institutional investors have also made changes to their positions in the stock. Farther Finance Advisors LLC boosted its position in Barrick Mining by 21.8% during the first quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer’s stock worth $62,000 after purchasing an additional 563 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in shares of Barrick Mining by 2.5% during the 1st quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer’s stock worth $558,000 after buying an additional 710 shares during the period. Nicholas Hoffman & Company LLC. grew its stake in Barrick Mining by 1.5% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer’s stock valued at $924,000 after buying an additional 716 shares during the last quarter. Wedbush Securities Inc. grew its stake in Barrick Mining by 5.9% in the 1st quarter. Wedbush Securities Inc. now owns 18,629 shares of the gold and copper producer’s stock valued at $362,000 after buying an additional 1,031 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Barrick Mining by 0.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 287,668 shares of the gold and copper producer’s stock worth $5,592,000 after acquiring an additional 1,035 shares during the period. 90.82% of the stock is owned by institutional investors.

Barrick Mining Price Performance

Shares of B stock opened at $34.75 on Tuesday. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $36.40. The company has a market capitalization of $59.18 billion, a P/E ratio of 21.86, a P/E/G ratio of 0.42 and a beta of 0.30. The stock has a 50 day moving average of $29.95 and a two-hundred day moving average of $23.61. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.Barrick Mining’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 earnings per share. As a group, equities analysts expect 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 given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, August 29th. Barrick Mining’s payout ratio is 37.74%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on B. TD Securities upped their price target on shares of Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. CIBC increased their target price on Barrick Mining from $38.00 to $50.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Scotiabank lifted 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of Barrick Mining in a report on Tuesday, October 14th. Finally, Citigroup raised their price objective on shares of Barrick Mining from $21.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $41.00.

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.