197,537 Shares in Barrick Mining Corporation (NYSE:B) Acquired by Cary Street Partners Financial LLC

Key Points

• Cary Street Partners Financial LLC has acquired a new stake in Barrick Mining Corporation, purchasing 197,537 shares valued at approximately $3.84 million.
• Other institutional investors have also increased their positions, with notable increases from Penserra Capital Management and Janney Montgomery Scott, indicating significant interest in Barrick Mining.
• Barrick Mining reported an earnings per share (EPS) of $0.35 for the latest quarter, surpassing analyst expectations and reflecting a year-over-year revenue growth of 13.9%.

Cary Street Partners Financial LLC bought a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 197,537 shares of the gold and copper producer's stock, valued at approximately $3,840,000.

A number of other hedge funds also recently made changes to their positions in the stock. Vega Investment Solutions purchased a new stake in shares of Barrick Mining in the 4th quarter valued at $31,000. Nexus Investment Management ULC purchased a new position in Barrick Mining in the 1st quarter worth $32,000. Strategic Investment Solutions Inc. IL bought a new stake in Barrick Mining in the fourth quarter worth $37,000. Ameriflex Group Inc. bought a new stake in Barrick Mining in the fourth quarter worth $39,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Barrick Mining by 55.8% during 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 buying an additional 785 shares during the period. 90.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on B. Royal Bank Of Canada set a $26.00 price objective on Barrick Mining and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Scotiabank lifted their price target on Barrick Mining from $20.00 to $22.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. CIBC boosted their price objective on Barrick Mining from $24.00 to $28.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Wall Street Zen raised Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. Finally, UBS Group lifted their target price on shares of Barrick Mining from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.41.

Barrick Mining Stock Up 1.6%

Barrick Mining stock traded up $0.36 during trading hours on Friday, hitting $23.43. 19,359,952 shares of the stock traded hands, compared to its average volume of 11,491,187. Barrick Mining Corporation has a one year low of $15.11 and a one year high of $23.54. The company has a market cap of $39.97 billion, a PE ratio of 17.62, a PEG ratio of 0.35 and a beta of 0.27. The firm's 50-day moving average price is $21.09 and its two-hundred day moving average price is $19.34. The company has a current ratio of 2.87, a quick ratio of 2.16 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.15 billion. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. The firm's revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share. On average, research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.

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.