Cetera Investment Advisers Purchases 54,976 Shares of Barrick Mining Corporation (NYSE:B)

Cetera Investment Advisers increased its stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 38.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 198,146 shares of the gold and copper producer's stock after purchasing an additional 54,976 shares during the quarter. Cetera Investment Advisers' holdings in Barrick Mining were worth $3,852,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in B. Geode Capital Management LLC raised its stake in Barrick Mining by 32.4% in the fourth quarter. Geode Capital Management LLC now owns 10,650,999 shares of the gold and copper producer's stock valued at $169,261,000 after buying an additional 2,603,744 shares during the last quarter. Prudential PLC grew its holdings in Barrick Mining by 87.2% during the fourth quarter. Prudential PLC now owns 40,112 shares of the gold and copper producer's stock worth $621,000 after acquiring an additional 18,684 shares during the period. KCM Investment Advisors LLC acquired a new stake in Barrick Mining during the fourth quarter worth about $159,000. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in Barrick Mining in the fourth quarter valued at approximately $259,000. Finally, Wedbush Securities Inc. lifted its position in shares of Barrick Mining by 34.7% in the fourth quarter. Wedbush Securities Inc. now owns 17,598 shares of the gold and copper producer's stock valued at $273,000 after acquiring an additional 4,535 shares in the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Stock Performance

Shares of B stock opened at $22.22 on Tuesday. The business has a 50 day simple moving average of $20.86 and a 200 day simple moving average of $19.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 2.16. The firm has a market capitalization of $37.91 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 0.32 and a beta of 0.27. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $22.27.

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

Barrick Mining Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.8%. Barrick Mining's dividend payout ratio is 30.08%.

Analyst Ratings Changes

A number of research firms have commented on B. CIBC lifted their target price on Barrick Mining from $24.00 to $28.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. UBS Group boosted their target price on Barrick Mining from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. BMO Capital Markets began coverage on Barrick Mining in a research report on Wednesday, April 16th. They issued a "market perform" rating for the company. Royal Bank Of Canada set a $26.00 target price on Barrick Mining and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Wall Street Zen raised Barrick Mining from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 5th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.41.

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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