Balboa Wealth Partners Buys New Holdings in Barrick Mining Corporation $B

Balboa Wealth Partners purchased a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,085 shares of the gold and copper producer’s stock, valued at approximately $855,000.

Other large investors also recently modified their holdings of the company. Arlington Trust Co LLC acquired a new stake in Barrick Mining during the 3rd quarter worth approximately $26,000. Bayforest Capital Ltd purchased a new position in Barrick Mining in the second quarter valued at approximately $31,000. Wealth Preservation Advisors LLC acquired a new position in Barrick Mining during the second quarter valued at approximately $33,000. Investors Research Corp purchased a new stake in Barrick Mining during the third quarter worth approximately $36,000. Finally, CENTRAL TRUST Co purchased a new stake in Barrick Mining during the second quarter worth approximately $37,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Stock Performance

NYSE:B opened at $47.99 on Friday. The firm has a 50-day moving average of $46.50 and a two-hundred day moving average of $36.61. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 2.33. The stock has a market cap of $80.40 billion, a P/E ratio of 16.38, a PEG ratio of 0.37 and a beta of 0.40. Barrick Mining Corporation has a 1-year low of $17.00 and a 1-year high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, topping the consensus estimate of $0.85 by $0.19. The business had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The business’s revenue for the quarter was up 44.6% on a year-over-year basis. On average, research analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.42 per share. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, February 27th. This represents a $1.68 annualized dividend and a dividend yield of 3.5%. Barrick Mining’s dividend payout ratio (DPR) is currently 57.34%.

Analysts Set New Price Targets

A number of brokerages have recently commented on B. BNP Paribas Exane raised shares of Barrick Mining to a “neutral” rating and set a $50.00 target price on the stock in a research note on Friday, December 5th. Raymond James Financial increased their price target on Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, November 25th. UBS Group set a $55.00 price objective on Barrick Mining in a research report on Friday, February 6th. Bank of America raised Barrick Mining from a “neutral” rating to a “buy” rating and upped their target price for the stock from $38.00 to $48.00 in a research report on Monday, November 24th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $71.00 target price on shares of Barrick Mining in a research note on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.58.

About Barrick Mining

Barrick Gold Corporation, commonly known as Barrick, is a Toronto‑headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large‑scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.

The company’s activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.