Apollon Wealth Management LLC Takes $561,000 Position in Barrick Mining Corporation $B

Key Points

• Apollon Wealth Management LLC has acquired a new position in Barrick Mining Corporation valued at approximately $561,000, acquiring 26,938 shares during the second quarter.
• Institutional investors collectively own 90.82% of Barrick Mining's stock, with significant recent stakes acquired by multiple firms including Ninety One UK Ltd and Perpetual Ltd.
• Wall Street analysts are optimistic about Barrick Mining, with price targets set between $39.00 and $57.00, and most ratings reflecting a consensus of "Moderate Buy".

Apollon Wealth Management LLC acquired a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 26,938 shares of the gold and copper producer's stock, valued at approximately $561,000.

A number of other institutional investors have also made changes to their positions in B. Ninety One UK Ltd bought a new stake in Barrick Mining during the second quarter worth $326,862,000. Perpetual Ltd bought a new stake in Barrick Mining during the second quarter worth $63,419,000. Assenagon Asset Management S.A. bought a new stake in Barrick Mining during the second quarter worth $50,139,000. Euro Pacific Asset Management LLC bought a new stake in Barrick Mining during the second quarter worth $45,212,000. Finally, Systrade AG bought a new stake in Barrick Mining during the second quarter worth $41,640,000. Institutional investors own 90.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Raymond James Financial set a $40.00 price target on shares of Barrick Mining and gave the stock an "outperform" rating in a research report on Friday, October 10th. Canaccord Genuity Group upped their price objective on shares of Barrick Mining from $39.00 to $57.00 and gave the company a "buy" rating in a report on Thursday, October 9th. Zacks Research downgraded shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. UBS Group upped their price objective on shares of Barrick Mining from $35.00 to $39.00 and gave the company a "buy" rating in a report on Thursday. Finally, Wall Street Zen upgraded shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 11th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $41.00.

Barrick Mining Trading Up 2.7%

B stock opened at $35.61 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. The company's 50-day simple moving average is $29.51 and its 200 day simple moving average is $23.34. Barrick Mining Corporation has a 52 week low of $15.11 and a 52 week high of $36.40. The company has a market capitalization of $60.64 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 0.57 and a beta of 0.30.

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

Barrick Mining Cuts Dividend

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

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.

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.