Butensky & Cohen Financial Security Inc. Buys Shares of 174,445 Barrick Mining Corporation $B

Key Points

• Butensky & Cohen Financial Security Inc. has acquired a new stake in Barrick Mining Corporation, purchasing 174,445 shares for approximately $3.6 million.
• Wall Street analysts have positive outlooks, with several brokerages raising their target prices for Barrick Mining, with UBS Group setting a new price objective of $35.00.
• Barrick Mining recently announced a dividend of $0.15 per share, with an annualized yield of 1.8% amidst a payout ratio of 37.74%.

Butensky & Cohen Financial Security 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 174,445 shares of the gold and copper producer's stock, valued at approximately $3,632,000.

Other institutional investors also recently bought and sold shares of the company. Nexus Investment Management ULC acquired a new stake in Barrick Mining in the first quarter valued at approximately $32,000. Cary Street Partners Investment Advisory LLC acquired a new stake in Barrick Mining in the first quarter valued at approximately $32,000. Vega Investment Solutions acquired a new stake in Barrick Mining in the fourth quarter valued at approximately $31,000. MassMutual Private Wealth & Trust FSB boosted its stake in Barrick Mining by 55.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer's stock valued at $43,000 after acquiring an additional 785 shares in the last quarter. Finally, Ameriflex Group Inc. acquired a new stake in Barrick Mining in the fourth quarter valued at approximately $39,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on B. Scotiabank raised 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 note on Wednesday, August 13th. Royal Bank Of Canada set a $26.00 price objective on shares of Barrick Mining and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. UBS Group lifted their price objective on shares of Barrick Mining from $26.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday. Bank of America lifted their price objective on shares of Barrick Mining from $29.00 to $34.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, Raymond James Financial set a $32.00 price objective on shares of Barrick Mining in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.78.

Barrick Mining Trading Up 9.7%

Shares of Barrick Mining stock opened at $32.99 on Friday. The firm has a 50-day simple moving average of $24.84 and a two-hundred day simple moving average of $21.38. The company has a market cap of $56.18 billion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 0.53 and a beta of 0.28. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $33.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued 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. The business had revenue of $3.72 billion during 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 company's revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 earnings per share. As a group, equities analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

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

Barrick Mining Company 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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