Phoenix Wealth Advisors Invests $314,000 in Barrick Mining Corporation $B

Phoenix Wealth Advisors acquired a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 15,065 shares of the gold and copper producer’s stock, valued at approximately $314,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in Barrick Mining by 18.0% in the first quarter. Envestnet Asset Management Inc. now owns 828,666 shares of the gold and copper producer’s stock valued at $16,109,000 after acquiring an additional 126,643 shares during the last quarter. Cerity Partners LLC increased its position in shares of Barrick Mining by 47.4% during the first quarter. Cerity Partners LLC now owns 136,786 shares of the gold and copper producer’s stock worth $2,659,000 after acquiring an additional 44,002 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Barrick Mining by 15.5% in the 1st quarter. New York State Common Retirement Fund now owns 194,806 shares of the gold and copper producer’s stock valued at $3,787,000 after purchasing an additional 26,170 shares during the period. Bleakley Financial Group LLC boosted its position in Barrick Mining by 5.5% during the 1st quarter. Bleakley Financial Group LLC now owns 26,366 shares of the gold and copper producer’s stock worth $513,000 after acquiring an additional 1,375 shares during the last quarter. Finally, Sigma Planning Corp increased its stake in Barrick Mining by 22.2% in the 1st quarter. Sigma Planning Corp now owns 14,127 shares of the gold and copper producer’s stock valued at $275,000 after buying an additional 2,567 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of Barrick Mining from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Cibc World Mkts upgraded shares of Barrick Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. TD Securities lifted their price objective on Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. CIBC boosted their price objective on shares of Barrick Mining from $38.00 to $50.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Finally, Citigroup lifted their price target on shares of Barrick Mining from $21.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Two 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 company’s stock. Based on data from MarketBeat.com, Barrick Mining presently has an average rating of “Moderate Buy” and an average target price of $42.90.

Barrick Mining Price Performance

B stock opened at $36.39 on Friday. 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 business has a 50-day simple moving average of $32.67 and a two-hundred day simple moving average of $25.30. Barrick Mining Corporation has a 52-week low of $15.11 and a 52-week high of $37.62. The company has a market capitalization of $61.40 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 0.40 and a beta of 0.28.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 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 business had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same period last year, the company posted $0.09 earnings per share. Barrick Mining’s quarterly revenue was up 23.2% compared to the same quarter last year. Research analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a $0.175 dividend. The ex-dividend date of this dividend is Friday, November 28th. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a dividend yield of 1.9%. Barrick Mining’s payout ratio is currently 37.74%.

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.