Atria Wealth Solutions Inc. Buys Shares of 19,986 Barrick Mining Corporation $B

Key Points

• Atria Wealth Solutions Inc. has acquired a new stake in Barrick Mining Corporation, purchasing 19,986 shares valued at approximately $416,000 during the second quarter.
• Analysts have raised price targets for Barrick Mining, with Citigroup increasing theirs from $21.00 to $38.00 and CIBC from $38.00 to $50.00, indicating growing optimism about the stock's performance.
• Barrick Mining announced a quarterly dividend of $0.15 per share, leading to a 1.7% dividend yield, despite a recent cut in payout measures.

Atria Wealth Solutions Inc. bought a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 19,986 shares of the gold and copper producer's stock, valued at approximately $416,000.

Several other institutional investors also recently bought and sold shares of the company. Penserra Capital Management LLC raised its holdings 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 buying an additional 2,821 shares during the last quarter. Hedges Asset Management LLC purchased a new position in shares of Barrick Mining in the second quarter worth $1,249,000. Chemistry Wealth Management LLC purchased a new position in shares of Barrick Mining in the second quarter worth $246,000. Sequoia Financial Advisors LLC raised its holdings 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 buying an additional 4,082 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings 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 buying an additional 59,906 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on B shares. Citigroup raised their price target on shares of Barrick Mining from $21.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, October 15th. Raymond James Financial set a $40.00 price target on shares of Barrick Mining and gave the stock an "outperform" rating in a report on Friday, October 10th. CIBC raised their price target on shares of Barrick Mining from $38.00 to $50.00 and gave the stock an "outperformer" rating in a report on Friday, October 10th. Wall Street Zen raised shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 11th. Finally, UBS Group raised their price target on shares of Barrick Mining from $35.00 to $39.00 and gave the stock a "buy" rating in a report on Thursday. Two 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $41.00.

Barrick Mining Trading Up 4.3%

Shares of Barrick Mining stock opened at $34.75 on Tuesday. 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 fifty day moving average price of $29.95 and a 200 day moving average price of $23.61. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $36.40. The stock has a market cap of $59.18 billion, a PE 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 earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, hitting 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 analysts' expectations of $3.60 billion. During the same quarter last year, the company posted $0.32 earnings per share. The firm's revenue was up 16.4% compared to the same quarter last year. Equities research analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, August 29th. Barrick Mining's dividend payout ratio (DPR) is currently 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.

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