Glass Wealth Management Co LLC Takes $3.98 Million Position in Barrick Mining Corporation $B

Glass Wealth Management Co LLC acquired a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, Holdings Channel reports. The firm acquired 191,225 shares of the gold and copper producer’s stock, valued at approximately $3,981,000. Barrick Mining accounts for 2.1% of Glass Wealth Management Co LLC’s portfolio, making the stock its 16th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC grew its holdings in shares of Barrick Mining by 1,919.0% during the first quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer’s stock valued at $56,000 after buying an additional 2,821 shares in the last quarter. Hedges Asset Management LLC acquired a new stake in Barrick Mining during the 2nd quarter worth about $1,249,000. Chemistry Wealth Management LLC purchased a new position in Barrick Mining during the 2nd quarter valued at about $246,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Barrick Mining by 14.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer’s stock valued at $1,141,000 after purchasing an additional 9,149 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Barrick Mining by 24.4% in the first quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer’s stock worth $404,000 after purchasing an additional 4,082 shares in the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

B has been the topic of a number of research analyst reports. Raymond James Financial boosted their price objective on shares of Barrick Mining from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Barrick Mining in a research note on Saturday, September 27th. Zacks Research cut Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Barrick Mining in a research report on Wednesday, September 24th. Finally, National Bankshares raised Barrick Mining to an “outperform” rating in a research note on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

Barrick Mining Price Performance

Shares of NYSE:B opened at $33.94 on Monday. The stock has a market capitalization of $57.78 billion, a P/E ratio of 21.34, a P/E/G ratio of 0.56 and a beta of 0.30. The business has a 50-day moving average of $27.37 and a two-hundred day moving average of $22.48. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $36.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The firm’s revenue was up 16.4% compared to the same quarter last year. During the same period last year, the business earned $0.32 EPS. On average, equities research analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining’s dividend 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.