Icon Advisers Inc. Co. Buys Shares of 90,000 Barrick Mining Corporation $B

Icon Advisers Inc. Co. bought a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 90,000 shares of the gold and copper producer’s stock, valued at approximately $1,874,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vermillion Wealth Management Inc. acquired a new position in Barrick Mining in the second quarter valued at about $25,000. Concord Wealth Partners acquired a new position in shares of Barrick Mining during the 2nd quarter worth about $26,000. Crowley Wealth Management Inc. bought a new stake in shares of Barrick Mining in the 2nd quarter valued at about $26,000. Ameriflex Group Inc. bought a new stake in shares of Barrick Mining in the 2nd quarter valued at about $27,000. Finally, Trifecta Capital Advisors LLC acquired a new stake in shares of Barrick Mining in the 2nd quarter valued at approximately $27,000. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Trading Up 2.3%

NYSE B opened at $41.90 on Friday. Barrick Mining Corporation has a 52 week low of $15.11 and a 52 week high of $41.72. 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 stock’s 50 day moving average price is $34.66 and its two-hundred day moving average price is $26.87. The stock has a market capitalization of $70.71 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 0.40 and a beta of 0.28.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.20 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The firm’s revenue was up 23.2% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. As a group, analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be paid a dividend of $0.175 per share. The ex-dividend date is Friday, November 28th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.7%. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s dividend payout ratio (DPR) is currently 33.82%.

Wall Street Analysts Forecast Growth

B has been the topic of a number of recent analyst reports. CIBC lifted their price target on shares of Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. National Bankshares raised Barrick Mining to an “outperform” rating in a research note on Monday, September 22nd. Zacks Research cut Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Wall Street Zen downgraded Barrick Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Cormark upgraded Barrick Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Barrick Mining presently has a consensus rating of “Buy” and an average price target of $44.78.

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.