Cary Street Partners Financial LLC Acquires Shares of 217,510 Barrick Mining Corporation $B

Cary Street Partners Financial LLC bought a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, HoldingsChannel reports. The fund bought 217,510 shares of the gold and copper producer’s stock, valued at approximately $4,529,000.

Other hedge funds also recently modified their holdings of the company. Vermillion Wealth Management Inc. bought a new stake in Barrick Mining during the second quarter worth about $25,000. Concord Wealth Partners bought a new position in Barrick Mining in the 2nd quarter valued at about $26,000. Crowley Wealth Management Inc. acquired a new position in shares of Barrick Mining in the 2nd quarter valued at approximately $26,000. Ameriflex Group Inc. acquired a new position in shares of Barrick Mining in the 2nd quarter valued at approximately $27,000. Finally, Trifecta Capital Advisors LLC bought a new stake in shares of Barrick Mining during the 2nd quarter worth approximately $27,000. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Performance

NYSE B opened at $40.99 on Monday. The firm’s fifty day moving average price is $35.33 and its two-hundred day moving average price is $27.74. The stock has a market cap of $69.17 billion, a PE ratio of 19.80, a PEG ratio of 0.42 and a beta of 0.40. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.33 and a current ratio of 2.94. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $43.08.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The company 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 9.48% and a net margin of 24.53%.Barrick Mining’s revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 EPS. On average, 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. Stockholders of record on Friday, November 28th will be paid a dividend of $0.175 per share. The ex-dividend date of this dividend is Friday, November 28th. This is a positive change 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 payout ratio is 33.82%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Cowen reissued a “buy” rating on shares of Barrick Mining in a research note on Wednesday, November 26th. Royal Bank Of Canada upped their target price on Barrick Mining from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a research note on Monday, December 1st. UBS Group boosted their price target on Barrick Mining from $39.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Finally, BNP Paribas upgraded Barrick Mining to a “neutral” rating and set a $50.00 price objective for the company in a research report on Friday. Two 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.17.

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.