27,544 Shares in Barrick Mining Corporation $B Purchased by FLC Capital Advisors

Key Points

• FLC Capital Advisors has purchased 27,544 shares in Barrick Mining Corporation, amounting to approximately $573,000, indicating strong institutional interest in the company.
• Multiple large investors have significantly increased their holdings in Barrick Mining, with GAMMA Investing LLC boosting its position by 1,844.0% in the first quarter.
• Research analysts have varying outlooks on Barrick Mining, with target prices ranging from $21.00 to $39.00, and the stock currently holds a consensus rating of "Moderate Buy" with an average target price of $41.00.

FLC Capital Advisors purchased a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 27,544 shares of the gold and copper producer's stock, valued at approximately $573,000.

A number of other large investors also recently made changes to their positions in B. GAMMA Investing LLC increased its holdings in Barrick Mining by 1,844.0% in the first quarter. GAMMA Investing LLC now owns 6,007 shares of the gold and copper producer's stock worth $117,000 after buying an additional 5,698 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Barrick Mining by 21.8% during the first quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer's stock worth $62,000 after buying an additional 563 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Barrick Mining by 1.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 74,792 shares of the gold and copper producer's stock valued at $1,454,000 after purchasing an additional 1,156 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Barrick Mining by 25.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 291,281 shares of the gold and copper producer's stock valued at $5,663,000 after buying an additional 59,906 shares during the last quarter. Finally, Brickwood Asset Management LLP increased its position in shares of Barrick Mining by 0.3% during the 1st quarter. Brickwood Asset Management LLP now owns 1,759,574 shares of the gold and copper producer's stock worth $34,171,000 after purchasing an additional 4,992 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on B. Scotiabank boosted their price target on Barrick Mining from $25.00 to $26.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 13th. Zacks Research cut Barrick Mining from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Citigroup upped their target price on Barrick Mining from $21.00 to $38.00 and gave the company a "neutral" rating in a research report on Wednesday. UBS Group increased their price target on Barrick Mining from $35.00 to $39.00 and gave the stock a "buy" rating in a report on Thursday. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Barrick Mining in a report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $41.00.

Barrick Mining Stock Performance

B stock opened at $33.41 on Monday. The stock has a market capitalization of $56.88 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 0.42 and a beta of 0.30. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $36.40. 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 stock's 50 day simple moving average is $29.71 and its 200 day simple moving average is $23.49.

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

Barrick Mining Cuts Dividend

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