202,524 Shares in Barrick Mining Corporation $B Bought by Moran Wealth Management LLC

Key Points

• Moran Wealth Management LLC acquired 202,524 shares of Barrick Mining Corporation, valued at approximately $4.2 million during the second quarter.
• Multiple institutions, including Vanguard Group and TD Asset Management, have increased their stakes in Barrick Mining, reflecting a high level of institutional interest with 90.82% of the stock owned by hedge funds and other institutional investors.
• Analysts have upgraded Barrick Mining's rating to "outperform," with price targets raised significantly, indicating strong sentiment towards the stock's future performance.

Moran Wealth Management LLC bought a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 202,524 shares of the gold and copper producer's stock, valued at approximately $4,217,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in 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 valued at $1,337,012,000 after purchasing an additional 502,762 shares during the period. TD Asset Management Inc raised its position in 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 valued at $348,479,000 after purchasing an additional 275,015 shares during the period. Ninety One UK Ltd purchased a new position in Barrick Mining in the second quarter valued at about $326,862,000. Mackenzie Financial Corp raised its position in 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 valued at $303,161,000 after purchasing an additional 296,472 shares during the period. Finally, Ruffer LLP raised its position in 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 valued at $202,701,000 after purchasing an additional 156,947 shares during the period. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on B. National Bank Financial raised Barrick Mining from a "sector perform" rating to an "outperform" rating in a research report on Monday, September 22nd. CIBC lifted their target price on Barrick Mining from $38.00 to $50.00 and gave the stock an "outperformer" rating in a research report on Friday, October 10th. UBS Group lifted their target price on Barrick Mining from $26.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Barrick Mining in a research report on Wednesday, September 24th. Finally, National Bankshares raised Barrick Mining to an "outperform" rating in a research report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $38.10.

Barrick Mining Stock Down 0.2%

NYSE:B opened at $33.34 on Wednesday. The company has a market capitalization of $56.77 billion, a price-to-earnings ratio of 20.97, a price-to-earnings-growth ratio of 0.55 and a beta of 0.30. Barrick Mining Corporation has a one year low of $15.11 and a one year high of $36.10. The stock has a 50-day simple moving average of $29.02 and a 200 day simple moving average of $23.15. 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 (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings results on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, hitting analysts' consensus estimates of $0.47. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The company's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period last year, the firm earned $0.32 earnings per share. Sell-side analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

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