A. D. Beadell Investment Counsel Inc. Acquires Shares of 92,270 Barrick Mining Corporation $B

Key Points

• A. D. Beadell Investment Counsel Inc. acquired 92,270 shares of Barrick Mining, valued at approximately $1.92 million, making it the 27th largest position in their investment portfolio.
• Several institutional investors increased their stakes in Barrick Mining, with 90.82% of the company's stock now owned by institutional shareholders.
• Barrick Mining's quarterly earnings hit analysts' expectations with $0.47 earnings per share and revenue of $3.72 billion, a 16.4% increase year-over-year.

A. D. Beadell Investment Counsel Inc. acquired a new stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 92,270 shares of the gold and copper producer's stock, valued at approximately $1,921,000. Barrick Mining comprises about 1.5% of A. D. Beadell Investment Counsel Inc.'s investment portfolio, making the stock its 27th largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in B. Forum Financial Management LP bought a new position in shares of Barrick Mining during the 4th quarter valued at about $213,000. Ameriflex Group Inc. bought a new position in shares of Barrick Mining during the 4th quarter valued at about $39,000. Park Square Financial Group LLC bought a new position in shares of Barrick Mining during the 4th quarter valued at about $71,000. Aegis Wealth Management LLC bought a new position in shares of Barrick Mining during the 4th quarter valued at about $186,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Barrick Mining by 14.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer's stock valued at $1,141,000 after purchasing an additional 9,149 shares during the last quarter. Institutional investors own 90.82% of the company's stock.

Barrick Mining Stock Performance

Barrick Mining stock opened at $34.30 on Friday. 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 $36.10. The firm has a market capitalization of $58.41 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 0.59 and a beta of 0.28. The company's 50-day moving average is $25.91 and its 200 day moving average is $21.82.

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 earnings per share for the quarter, hitting analysts' consensus estimates of $0.47. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period in the prior year, the company posted $0.32 EPS. The firm's revenue for the quarter was up 16.4% on a year-over-year basis. Research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining's dividend payout ratio is 37.74%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Royal Bank Of Canada increased their price objective on shares of Barrick Mining from $34.00 to $38.00 and gave the company an "outperform" rating in a report on Monday. Cibc World Mkts upgraded shares of Barrick Mining from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. TD Securities upped their target price on shares of Barrick Mining from $30.00 to $38.00 and gave the company a "buy" rating in a research report on Monday. National Bankshares upgraded shares of Barrick Mining to an "outperform" rating in a research report on Monday. Finally, Scotiabank upped their target price on shares of Barrick Mining from $25.00 to $26.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Barrick Mining presently has an average rating of "Moderate Buy" and a consensus target price of $33.33.

Barrick Mining 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.

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.