Bard Financial Services Inc. Buys Shares of 63,625 Barrick Mining Corporation $B

Key Points

• Bard Financial Services Inc. has acquired 63,625 shares of Barrick Mining Corporation, valued at approximately $1,325,000, indicating institutional confidence in the stock.
• Barrick Mining reported a quarterly earnings per share (EPS) of $0.47, meeting analysts' expectations, with a revenue increase of 16.4% year-over-year.
• The company recently declared a quarterly dividend of $0.15 per share, reflecting a dividend yield of 2.1% and a payout ratio of 37.74%.

Bard Financial Services Inc. acquired a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 63,625 shares of the gold and copper producer's stock, valued at approximately $1,325,000.

A number of other institutional investors also recently bought and sold shares of the company. Penserra Capital Management LLC grew its stake in shares of Barrick Mining by 1,919.0% in the 1st quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer's stock valued at $56,000 after buying an additional 2,821 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Barrick Mining by 14.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer's stock worth $1,141,000 after acquiring an additional 9,149 shares during the period. Sequoia Financial Advisors LLC increased its stake in Barrick Mining by 24.4% during the first quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer's stock worth $404,000 after acquiring an additional 4,082 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Barrick Mining by 25.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 291,281 shares of the gold and copper producer's stock worth $5,663,000 after acquiring an additional 59,906 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in Barrick Mining by 28.9% during the 1st quarter. Fifth Third Bancorp now owns 5,644 shares of the gold and copper producer's stock worth $110,000 after buying an additional 1,266 shares in the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Stock Down 1.2%

B opened at $29.05 on Monday. Barrick Mining Corporation has a 52 week low of $15.11 and a 52 week high of $29.79. The business has a 50 day moving average price of $23.94 and a two-hundred day moving average price of $21.00. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. The company has a market cap of $49.47 billion, a PE ratio of 18.27, a P/E/G ratio of 0.54 and a beta of 0.28.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company's revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, research analysts anticipate 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 will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, August 29th. Barrick Mining's dividend payout ratio (DPR) is currently 37.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on B shares. Zacks Research downgraded Barrick Mining from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. 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 report on Wednesday, August 13th. Cibc World Mkts raised shares of Barrick Mining from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Royal Bank Of Canada set a $26.00 price target on shares of Barrick Mining and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Finally, CIBC raised Barrick Mining from a "neutral" rating to an "outperform" rating in a report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $24.94.

About Barrick Mining

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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