Checchi Capital Advisers LLC Buys New Stake in Barrick Mining Corporation $B

Key Points

• Checchi Capital Advisers LLC has acquired a new stake in Barrick Mining Corporation, purchasing 10,645 shares valued at approximately $222,000 during the second quarter.
• Barrick Mining reported $3.72 billion in revenue for the last quarter, exceeding analyst estimates, and posted an earnings per share of $0.47, matching consensus expectations.
• The company recently announced a quarterly dividend of $0.15 per share, which leads to an annualized yield of 1.8% despite a dividend cut.

Checchi Capital Advisers LLC bought a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,645 shares of the gold and copper producer's stock, valued at approximately $222,000.

Other large investors have also recently added to or reduced their stakes in the company. Vermillion Wealth Management Inc. acquired a new position in shares of Barrick Mining during the 2nd quarter valued at $25,000. Crowley Wealth Management Inc. acquired a new position in shares of Barrick Mining during the 2nd quarter valued at $26,000. Ameriflex Group Inc. acquired a new position in shares of Barrick Mining during the 2nd quarter valued at $27,000. SJS Investment Consulting Inc. bought a new stake in shares of Barrick Mining during the 2nd quarter worth $29,000. Finally, Cary Street Partners Investment Advisory LLC bought a new stake in shares of Barrick Mining during the 1st quarter worth $32,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barrick Mining Price Performance

B opened at $33.19 on Wednesday. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $36.10. The stock has a fifty day moving average price of $27.86 and a 200 day moving average price of $22.66. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. The stock has a market cap of $56.52 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 0.56 and a beta of 0.30.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period last year, the company earned $0.32 earnings per share. The business's revenue was up 16.4% compared to the same quarter last year. Analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Zacks Research lowered Barrick Mining from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. TD Securities raised their price objective on Barrick Mining from $30.00 to $38.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. BMO Capital Markets reaffirmed a "market perform" rating on shares of Barrick Mining in a research report on Monday, September 22nd. CIBC reaffirmed an "outperform" rating on shares of Barrick Mining in a research report on Monday, September 22nd. Finally, National Bank Financial raised Barrick Mining from a "sector perform" rating to an "outperform" rating in a research report on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Barrick Mining presently has a consensus rating of "Moderate Buy" and an average price target of $33.33.

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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