90,000 Shares in Barrick Mining Corporation $B Bought by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. purchased a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 90,000 shares of the gold and copper producer’s stock, valued at approximately $1,874,000.

A number of other institutional investors have also made changes to their positions in the business. Cetera Investment Advisers boosted its stake in Barrick Mining by 38.4% during the 1st quarter. Cetera Investment Advisers now owns 198,146 shares of the gold and copper producer’s stock valued at $3,852,000 after purchasing an additional 54,976 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Barrick Mining during the first quarter worth approximately $58,000. Arkadios Wealth Advisors lifted its holdings in shares of Barrick Mining by 21.2% during the first quarter. Arkadios Wealth Advisors now owns 17,594 shares of the gold and copper producer’s stock worth $342,000 after buying an additional 3,081 shares during the last quarter. Natixis Advisors LLC boosted its position in shares of Barrick Mining by 75.0% in the first quarter. Natixis Advisors LLC now owns 253,149 shares of the gold and copper producer’s stock valued at $4,921,000 after acquiring an additional 108,455 shares during the period. Finally, Harbour Investments Inc. grew its stake in shares of Barrick Mining by 298.8% in the first quarter. Harbour Investments Inc. now owns 8,611 shares of the gold and copper producer’s stock worth $167,000 after acquiring an additional 6,452 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

B has been the subject of several research analyst reports. Canaccord Genuity Group upped their target price on shares of Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Barrick Mining in a research report on Monday, September 22nd. Raymond James Financial lifted their target price on Barrick Mining from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday. Cowen reaffirmed a “buy” rating on shares of Barrick Mining in a report on Wednesday. Finally, UBS Group raised their price objective on Barrick Mining from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Two research 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 has a consensus rating of “Buy” and a consensus target price of $44.78.

Barrick Mining Stock Up 2.3%

Shares of B opened at $41.90 on Friday. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $34.66 and a two-hundred day moving average price of $26.87. The stock has a market cap of $70.71 billion, a price-to-earnings ratio of 26.35, a P/E/G ratio of 0.40 and a beta of 0.28. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $41.72.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its 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. The business had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.20 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 23.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 EPS. Equities analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

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

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.