14,515 Shares in Barrick Mining Corporation $B Acquired by Stratos Wealth Advisors LLC

Stratos Wealth Advisors LLC acquired a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 14,515 shares of the gold and copper producer’s stock, valued at approximately $302,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vermillion Wealth Management Inc. acquired a new stake in shares of Barrick Mining during the 2nd quarter valued at $25,000. Concord Wealth Partners acquired a new stake in shares of Barrick Mining during the 2nd quarter valued at $26,000. Crowley Wealth Management Inc. acquired a new stake in shares of Barrick Mining during the 2nd quarter valued at $26,000. Ameriflex Group Inc. acquired a new stake in shares of Barrick Mining during the 2nd quarter valued at $27,000. Finally, Trifecta Capital Advisors LLC acquired a new stake in shares of Barrick Mining during the 2nd quarter valued at $27,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on B shares. Sanford C. Bernstein reissued an “outperform” rating on shares of Barrick Mining in a research note on Wednesday, September 24th. Bank of America lifted their target price on shares of Barrick Mining from $36.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday. Raymond James Financial set a $40.00 target price on shares of Barrick Mining and gave the company an “outperform” rating in a research note on Friday, October 10th. UBS Group raised their price target on shares of Barrick Mining from $35.00 to $39.00 and gave the company a “buy” rating in a report on Thursday. Finally, Canaccord Genuity Group raised their price target on shares of Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Barrick Mining Stock Down 6.3%

Barrick Mining stock opened at $33.41 on Monday. The company has a market capitalization of $56.88 billion, a P/E ratio of 21.01, a P/E/G ratio of 0.42 and a beta of 0.30. The firm’s fifty day simple moving average is $29.71 and its 200-day simple moving average is $23.49. 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 Corporation has a 1-year low of $15.11 and a 1-year high of $36.40.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results 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 net margin of 19.99% and a return on equity of 8.19%. Barrick Mining’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 EPS. Sell-side analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a yield of 1.8%. Barrick Mining’s payout ratio is currently 37.74%.

Barrick Mining Profile

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.