Wedbush Securities Inc. Invests $267,000 in Barrick Mining Corporation $B

Wedbush Securities Inc. purchased a new position in shares of 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 purchased 12,844 shares of the gold and copper producer’s stock, valued at approximately $267,000.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Barrick Mining by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 68,861,295 shares of the gold and copper producer’s stock valued at $1,337,012,000 after acquiring an additional 502,762 shares during the period. First Eagle Investment Management LLC purchased a new position in Barrick Mining during the second quarter valued at $822,056,000. TD Asset Management Inc purchased a new position in Barrick Mining during the second quarter valued at $386,328,000. Ninety One UK Ltd acquired a new stake in shares of Barrick Mining in the second quarter valued at about $326,862,000. Finally, Mackenzie Financial Corp increased its stake in shares of Barrick Mining by 1.9% during the first quarter. Mackenzie Financial Corp now owns 15,614,848 shares of the gold and copper producer’s stock worth $303,161,000 after purchasing an additional 296,472 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Raymond James Financial set a $40.00 target price on Barrick Mining and gave the company an “outperform” rating in a report on Friday, October 10th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Barrick Mining in a research report on Wednesday, September 24th. Canaccord Genuity Group increased their price objective on Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Bank of America lifted their target price on shares of Barrick Mining from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Finally, CIBC upped their target price on shares of Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $42.90.

Barrick Mining Trading Up 0.1%

NYSE:B opened at $37.37 on Thursday. The stock has a fifty day moving average price of $32.49 and a 200 day moving average price of $25.22. 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 Corporation has a 12-month low of $15.11 and a 12-month high of $37.60. The firm has a market cap of $63.06 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 0.40 and a beta of 0.28.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The firm had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter last year, the business posted $0.09 EPS. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. Sell-side 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 declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, November 28th. 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.