Sigma Planning Corp Makes New $1.31 Million Investment in Barrick Mining Corporation $B

Sigma Planning Corp bought a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 62,751 shares of the gold and copper producer’s stock, valued at approximately $1,306,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Kestra Private Wealth Services LLC increased its holdings in shares of Barrick Mining by 2.5% during the first quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer’s stock valued at $558,000 after acquiring an additional 710 shares in the last quarter. Nicholas Hoffman & Company LLC. increased its holdings in shares of Barrick Mining by 1.5% during the first quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer’s stock valued at $924,000 after acquiring an additional 716 shares in the last quarter. Wedbush Securities Inc. increased its holdings in shares of Barrick Mining by 5.9% during the first quarter. Wedbush Securities Inc. now owns 18,629 shares of the gold and copper producer’s stock valued at $362,000 after acquiring an additional 1,031 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Barrick Mining by 0.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 287,668 shares of the gold and copper producer’s stock valued at $5,592,000 after acquiring an additional 1,035 shares in the last quarter. Finally, HighPoint Advisor Group LLC increased its holdings in shares of Barrick Mining by 3.9% during the first quarter. HighPoint Advisor Group LLC now owns 28,744 shares of the gold and copper producer’s stock valued at $543,000 after acquiring an additional 1,081 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Stock Up 3.5%

B stock opened at $32.78 on Thursday. 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 1-year low of $15.11 and a 1-year high of $36.40. The stock has a market capitalization of $55.31 billion, a P/E ratio of 20.62, a P/E/G ratio of 0.40 and a beta of 0.28. The business has a fifty day moving average price of $31.69 and a 200-day moving average price of $24.69.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data 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 company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same quarter in the previous year, the company posted $0.32 earnings per share. Barrick Mining’s revenue was up 16.4% compared to the same quarter last year. Equities analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors 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 payout ratio is presently 37.74%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on B shares. Sanford C. Bernstein restated an “outperform” rating on shares of Barrick Mining in a report on Wednesday, September 24th. Citigroup boosted their price target on Barrick Mining from $21.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada boosted their price target on Barrick Mining from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. National Bankshares upgraded Barrick Mining to an “outperform” rating in a research note on Monday, September 22nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Barrick Mining in a research note on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Barrick Mining presently has a consensus rating of “Moderate Buy” and an average target price of $42.90.

Barrick Mining 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.