Moser Wealth Advisors LLC Buys New Position in Barrick Mining Corporation $B

Moser Wealth Advisors LLC bought a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,515 shares of the gold and copper producer’s stock, valued at approximately $115,000.

A number of other hedge funds have also bought and sold shares of the business. Bleakley Financial Group LLC bought a new stake in Barrick Mining during the second quarter worth $635,000. Forum Financial Management LP bought a new position in shares of Barrick Mining during the 2nd quarter worth $237,000. D.A. Davidson & CO. purchased a new stake in Barrick Mining in the 2nd quarter worth about $2,287,000. Cullen Frost Bankers Inc. purchased a new stake in Barrick Mining in the 2nd quarter worth about $683,000. Finally, Legacy Wealth Asset Management LLC purchased a new stake in Barrick Mining in the 2nd quarter worth about $777,000. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Price Performance

B opened at $31.96 on Friday. The stock has a market capitalization of $54.42 billion, a P/E ratio of 20.10, a PEG ratio of 0.39 and a beta of 0.30. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $36.40. The stock has a 50-day moving average price of $30.43 and a 200-day moving average price of $23.82. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.60 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 16.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 EPS. Equities analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining’s dividend payout ratio (DPR) is 37.74%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on B shares. Scotiabank raised Barrick Mining from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $27.50 to $43.00 in a report on Thursday. Canaccord Genuity Group boosted their price objective on Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Zacks Research lowered Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. National Bankshares upgraded Barrick Mining to an “outperform” rating in a research note on Monday, September 22nd. Finally, Cibc World Mkts upgraded Barrick Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.70.

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.