68,844 Shares in Barrick Mining Corporation $B Acquired by Koa Wealth Management LLC

Key Points

• Koa Wealth Management LLC acquired 68,844 shares of Barrick Mining Corporation, valued at approximately $1.43 million, during the second quarter.
• Barrick Mining reported a 16.4% year-over-year revenue increase to $3.72 billion in its latest quarterly earnings, matching earnings per share expectations at $0.47.
• The company's recent dividend yield is 1.7%, with a quarterly dividend of $0.15 per share, indicating a dividend payout ratio of 37.74%.

Koa Wealth Management LLC purchased a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 68,844 shares of the gold and copper producer's stock, valued at approximately $1,433,000.

Other institutional investors have also added to or reduced their stakes in the company. Penserra Capital Management LLC raised its stake in shares of Barrick Mining by 1,919.0% in the first quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer's stock worth $56,000 after purchasing an additional 2,821 shares during the last quarter. Hedges Asset Management LLC purchased a new stake in shares of Barrick Mining in the second quarter worth approximately $1,249,000. Chemistry Wealth Management LLC purchased a new stake in shares of Barrick Mining in the second quarter worth approximately $246,000. Sequoia Financial Advisors LLC raised its stake in shares of Barrick Mining by 24.4% in the first quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer's stock worth $404,000 after purchasing an additional 4,082 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Barrick Mining by 25.9% in the first quarter. Janney Montgomery Scott LLC now owns 291,281 shares of the gold and copper producer's stock worth $5,663,000 after purchasing an additional 59,906 shares during the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Barrick Mining Price Performance

Barrick Mining stock opened at $35.61 on Friday. Barrick Mining Corporation has a one year low of $15.11 and a one year high of $36.40. The business has a fifty day moving average price of $29.51 and a 200-day moving average price of $23.34. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53. The firm has a market capitalization of $60.64 billion, a P/E ratio of 22.40, a PEG ratio of 0.57 and a beta of 0.30.

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. 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 last year, the company earned $0.32 earnings per share. The business's revenue for the quarter was up 16.4% on a year-over-year basis. As a group, equities research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis 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 presently 37.74%.

Wall Street Analyst Weigh In

B has been the subject of several analyst reports. TD Securities increased their price objective on Barrick Mining from $38.00 to $46.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Barrick Mining in a report on Wednesday, September 24th. Cibc World Mkts raised Barrick Mining from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. UBS Group upped their target price on Barrick Mining from $35.00 to $39.00 and gave the company a "buy" rating in a report on Thursday. Finally, Royal Bank Of Canada upped their target price on Barrick Mining from $34.00 to $38.00 and gave the company an "outperform" rating in a 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 issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Barrick Mining currently has an average rating of "Moderate Buy" and an average price target of $41.00.

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.

Want to see what other hedge funds are holding B? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.