Laurel Wealth Advisors LLC Makes New $303,000 Investment in Barrick Mining Corporation $B

Laurel Wealth Advisors LLC acquired a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 14,574 shares of the gold and copper producer’s stock, valued at approximately $303,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. acquired a new position in Barrick Mining during the 2nd quarter valued at approximately $1,459,633,000. First Eagle Investment Management LLC acquired a new stake in shares of Barrick Mining in the second quarter valued at approximately $822,056,000. TD Asset Management Inc bought a new stake in shares of Barrick Mining during the second quarter valued at approximately $386,328,000. Ninety One UK Ltd bought a new position in Barrick Mining in the 2nd quarter worth approximately $326,862,000. Finally, Geode Capital Management LLC acquired a new stake in Barrick Mining in the 2nd quarter valued at approximately $307,855,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on B. Cowen reiterated a “buy” rating on shares of Barrick Mining in a research report on Wednesday. Zacks Research lowered shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Citigroup raised Barrick Mining from a “hold” rating to a “buy” rating in a report on Monday, November 24th. Canaccord Genuity Group raised their target price on shares of Barrick Mining from $39.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Finally, Scotiabank upgraded Barrick Mining from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $27.50 to $43.00 in a report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $44.78.

Barrick Mining Stock Performance

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. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $41.72. The company’s fifty day moving average is $34.66 and its 200-day moving average is $26.87. The firm has a market cap of $70.71 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 0.40 and a beta of 0.28.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. The firm 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 business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. Equities 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. Shareholders of record on Friday, November 28th will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.7%. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, November 28th. Barrick Mining’s dividend payout ratio is currently 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.