166,055 Shares in Barrick Mining Corporation $B Purchased by Perigon Wealth Management LLC

Key Points

• Perigon Wealth Management LLC purchased 166,055 shares of Barrick Mining Corporation for approximately $3,457,000 in the second quarter.
• Analysts have varying ratings on Barrick Mining, with a consensus rating of "Moderate Buy" and a price target of $33.33.
• Barrick Mining recently announced a quarterly dividend of $0.15, resulting in an annualized yield of 1.7%.

Perigon Wealth Management LLC bought a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 166,055 shares of the gold and copper producer's stock, valued at approximately $3,457,000.

A number of other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC increased its position in shares of Barrick Mining by 21.8% during the 1st quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer's stock worth $62,000 after purchasing an additional 563 shares in the last quarter. Sapient Capital LLC increased its position in shares of Barrick Mining by 0.5% during the 1st quarter. Sapient Capital LLC now owns 114,572 shares of the gold and copper producer's stock worth $2,227,000 after purchasing an additional 624 shares in the last quarter. Kestra Private Wealth Services LLC increased its position in shares of Barrick Mining by 2.5% during the 1st quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer's stock worth $558,000 after purchasing an additional 710 shares in the last quarter. Nicholas Hoffman & Company LLC. increased its position in shares of Barrick Mining by 1.5% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer's stock worth $924,000 after purchasing an additional 716 shares in the last quarter. Finally, Edge Wealth Management LLC increased its position in shares of Barrick Mining by 6.1% during the 1st quarter. Edge Wealth Management LLC now owns 13,110 shares of the gold and copper producer's stock worth $255,000 after purchasing an additional 755 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. BMO Capital Markets restated a "market perform" rating on shares of Barrick Mining in a research report on Monday. Raymond James Financial raised 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. Zacks Research cut shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Royal Bank Of Canada raised their price objective on shares of Barrick Mining from $34.00 to $38.00 and gave the company an "outperform" rating in a research report on Monday. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of Barrick Mining in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Barrick Mining presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.33.

Barrick Mining Stock Up 0.6%

Shares of NYSE B opened at $34.47 on Friday. The firm has a market capitalization of $58.70 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 0.60 and a beta of 0.28. 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 $36.10. The firm's 50-day moving average is $26.18 and its 200-day moving average is $21.93.

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, meeting the consensus estimate of $0.47. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The company'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. Equities analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining's dividend payout ratio (DPR) is 37.74%.

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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