37,304 Shares in Barrick Mining Corporation $B Purchased by Legacy Wealth Asset Management LLC

Key Points

• Legacy Wealth Asset Management LLC acquired 37,304 shares of Barrick Mining Corporation during Q2, valued at approximately $777,000.
• Multiple analysts have raised their price targets for Barrick Mining, with Citigroup increasing its target from $21.00 to $38.00 and CIBC boosting it from $38.00 to $50.00.
• Barrick Mining recently cut its dividend to $0.15 per share, resulting in an annualized yield of 1.7% and a payout ratio of 37.74%.

Legacy Wealth Asset Management LLC bought a new position in shares of 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 (SEC). The firm bought 37,304 shares of the gold and copper producer's stock, valued at approximately $777,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of B. Vermillion Wealth Management Inc. acquired a new stake in Barrick Mining during the second quarter worth about $25,000. Crowley Wealth Management Inc. acquired a new stake in Barrick Mining in the 2nd quarter valued at $26,000. Concord Wealth Partners acquired a new stake in Barrick Mining in the 2nd quarter valued at $26,000. Ameriflex Group Inc. acquired a new stake in shares of Barrick Mining in the second quarter worth approximately $27,000. Finally, Trifecta Capital Advisors LLC acquired a new stake in shares of Barrick Mining in the second quarter worth approximately $27,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on B shares. Zacks Research lowered Barrick Mining from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Citigroup boosted their price objective on Barrick Mining from $21.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 15th. Wall Street Zen upgraded Barrick Mining from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 11th. Scotiabank lifted their target price 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 boosted their price objective on Barrick Mining from $38.00 to $50.00 and gave the company an "outperformer" rating in a report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $41.00.

Barrick Mining Price Performance

Shares of NYSE B opened at $34.75 on Tuesday. The stock's 50-day moving average is $29.95 and its two-hundred day moving average is $23.61. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53. Barrick Mining Corporation has a 1-year low of $15.11 and a 1-year high of $36.40. The company has a market cap of $59.18 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 0.42 and a beta of 0.30.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The company had revenue of $3.72 billion for 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%.Barrick Mining's revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 EPS. Analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.7%. Barrick Mining's dividend payout ratio 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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