11,833 Shares in Barrick Mining Corporation $B Purchased by Chemistry Wealth Management LLC

Key Points

• Chemistry Wealth Management LLC acquired 11,833 shares of Barrick Mining Corporation valued at approximately $246,000 during the second quarter.
• Barrick Mining reported $0.47 earnings per share for the last quarter, meeting analysts' expectations, with revenue of $3.72 billion—up 16.4% year-over-year.
• The company recently announced a quarterly dividend of $0.15 per share, reflecting an annualized yield of 2.1% and a payout ratio of 37.74%.

Chemistry Wealth Management LLC acquired a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,833 shares of the gold and copper producer's stock, valued at approximately $246,000.

Several other institutional investors have also modified their holdings of the stock. Nexus Investment Management ULC bought a new position in shares of Barrick Mining during the 1st quarter valued at approximately $32,000. Cary Street Partners Investment Advisory LLC purchased a new position in Barrick Mining during the first quarter worth $32,000. Vega Investment Solutions bought a new position in Barrick Mining during the fourth quarter valued at $31,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Barrick Mining by 55.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer's stock valued at $43,000 after acquiring an additional 785 shares during the period. Finally, Ameriflex Group Inc. bought a new stake in shares of Barrick Mining in the 4th quarter worth about $39,000. 90.82% of the stock is owned by institutional investors.

Barrick Mining Price Performance

B opened at $29.04 on Tuesday. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. The business's fifty day simple moving average is $24.09 and its 200-day simple moving average is $21.08. The company has a market capitalization of $49.45 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 0.54 and a beta of 0.27. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $29.79.

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

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a yield of 2.1%. Barrick Mining's dividend payout ratio is currently 37.74%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on B. Raymond James Financial reissued an "outperform" rating on shares of Barrick Mining in a research report on Friday. Wall Street Zen downgraded Barrick Mining from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Royal Bank Of Canada set a $26.00 price objective on Barrick Mining and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Scotiabank upped their price objective on Barrick Mining from $25.00 to $26.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 13th. Finally, CIBC upgraded Barrick Mining from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Barrick Mining currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.94.

Barrick Mining Company 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.

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