13,128 Shares in Barrick Mining Corporation $B Acquired by GC Wealth Management RIA LLC

Key Points

• GC Wealth Management RIA LLC acquired 13,128 shares of Barrick Mining Corporation, valued at approximately $273,000, during the second quarter.
• Vanguard Group Inc. and several other institutional investors have recently increased their holdings in Barrick Mining, with institutional ownership now at 90.82%.
• Barrick Mining reported $0.47 earnings per share last quarter, with revenue of $3.72 billion, exceeding analysts' expectations of $3.60 billion.

GC Wealth Management RIA LLC acquired a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,128 shares of the gold and copper producer's stock, valued at approximately $273,000.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Barrick Mining by 0.7% in the first quarter. Vanguard Group Inc. now owns 68,861,295 shares of the gold and copper producer's stock worth $1,337,012,000 after purchasing an additional 502,762 shares during the last quarter. TD Asset Management Inc increased its position in shares of Barrick Mining by 1.6% in the first quarter. TD Asset Management Inc now owns 17,950,892 shares of the gold and copper producer's stock worth $348,479,000 after purchasing an additional 275,015 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Barrick Mining by 1.9% in the first quarter. Mackenzie Financial Corp now owns 15,614,848 shares of the gold and copper producer's stock worth $303,161,000 after purchasing an additional 296,472 shares during the last quarter. Ruffer LLP increased its position in shares of Barrick Mining by 1.5% in the first quarter. Ruffer LLP now owns 10,426,795 shares of the gold and copper producer's stock worth $202,701,000 after purchasing an additional 156,947 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd increased its position in shares of Barrick Mining by 0.6% in the first quarter. ANTIPODES PARTNERS Ltd now owns 10,112,758 shares of the gold and copper producer's stock worth $196,608,000 after purchasing an additional 61,298 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Sanford C. Bernstein reiterated an "outperform" rating on shares of Barrick Mining in a research report on Wednesday, September 24th. UBS Group increased their price target on shares of Barrick Mining from $26.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Royal Bank Of Canada increased their price target on shares of Barrick Mining from $34.00 to $38.00 and gave the company an "outperform" rating in a research report on Monday, September 22nd. Bank of America increased their price target on shares of Barrick Mining from $29.00 to $34.00 and gave the company a "neutral" rating in a research report on Friday, September 19th. Finally, Raymond James Financial increased their price target 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. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $33.33.

Barrick Mining Stock Up 2.9%

Shares of Barrick Mining stock opened at $33.72 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. Barrick Mining Corporation has a 52-week low of $15.11 and a 52-week high of $36.10. The stock has a market capitalization of $57.42 billion, a price-to-earnings ratio of 21.21, a P/E/G ratio of 0.54 and a beta of 0.30. The company's 50 day moving average price is $26.88 and its 200-day moving average price is $22.23.

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 firm had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.60 billion. During the same quarter last year, the business earned $0.32 earnings per share. The business's revenue was up 16.4% on a year-over-year basis. Equities research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.15 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.60 annualized dividend and a dividend yield of 1.8%. Barrick Mining's dividend payout ratio (DPR) 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.

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