Ascent Group LLC Makes New $294,000 Investment in Barrick Mining Corporation $B

Key Points

• Ascent Group LLC has invested approximately $294,000 in Barrick Mining Corporation, acquiring 14,110 shares of the company during the second quarter.
• Several institutional investors, including Farther Finance Advisors LLC and Kestra Private Wealth Services LLC, have also increased their stakes in Barrick Mining, with institutional investors now owning 90.82% of the stock.
• Barrick Mining reported a quarterly revenue of $3.72 billion, up 16.4% year-over-year, while the company also announced a quarterly dividend of $0.15 per share, yielding 1.8%.

Ascent Group 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 14,110 shares of the gold and copper producer's stock, valued at approximately $294,000.

A number of other institutional investors have also made changes to their positions in the business. Farther Finance Advisors LLC raised its holdings in shares of Barrick Mining by 21.8% in the first quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer's stock valued at $62,000 after buying an additional 563 shares during the last quarter. Sapient Capital LLC grew its stake in shares of Barrick Mining by 0.5% during the first quarter. Sapient Capital LLC now owns 114,572 shares of the gold and copper producer's stock valued at $2,227,000 after purchasing an additional 624 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in shares of Barrick Mining by 2.5% in the first quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer's stock valued at $558,000 after purchasing an additional 710 shares in the last quarter. Nicholas Hoffman & Company LLC. increased its holdings in shares of Barrick Mining by 1.5% in the first quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer's stock valued at $924,000 after purchasing an additional 716 shares in the last quarter. Finally, Wedbush Securities Inc. increased its holdings in shares of Barrick Mining by 5.9% in the first quarter. Wedbush Securities Inc. now owns 18,629 shares of the gold and copper producer's stock valued at $362,000 after purchasing an additional 1,031 shares in the last quarter. 90.82% of the stock is owned by institutional investors.

Barrick Mining Stock Performance

Shares of NYSE:B opened at $33.19 on Wednesday. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $36.10. 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 company has a market capitalization of $56.52 billion, a price-to-earnings ratio of 20.87, a P/E/G ratio of 0.56 and a beta of 0.30. The firm's 50 day simple moving average is $27.86 and its 200 day simple moving average is $22.66.

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

Barrick Mining Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, August 29th. This represents a $0.60 annualized dividend and a yield of 1.8%. Barrick Mining's payout ratio is currently 37.74%.

Analysts Set New Price Targets

Several research firms have issued reports on B. UBS Group upped their price objective on Barrick Mining from $26.00 to $35.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Bank of America boosted their target price on Barrick Mining from $29.00 to $34.00 and gave the stock a "neutral" rating in a research report on Friday, September 19th. TD Securities lifted their price objective on Barrick Mining from $30.00 to $38.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Royal Bank Of Canada raised their target price on shares of Barrick Mining from $34.00 to $38.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Barrick Mining in a research note on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Barrick Mining has an average rating of "Moderate Buy" and an average price target 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.

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.