Concurrent Investment Advisors LLC purchased a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 16,179 shares of the gold and copper producer's stock, valued at approximately $337,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Barrick Mining in the second quarter worth about $180,000. Apollon Wealth Management LLC acquired a new stake in shares of Barrick Mining in the second quarter worth about $561,000. Lester Murray Antman dba SimplyRich acquired a new stake in shares of Barrick Mining in the second quarter worth about $246,000. Comprehensive Money Management Services LLC acquired a new position in shares of Barrick Mining during the 2nd quarter worth about $926,000. Finally, Louisbourg Investments Inc. acquired a new position in shares of Barrick Mining during the 2nd quarter worth about $44,000. Institutional investors and hedge funds own 90.82% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently weighed in on B. Raymond James Financial set a $40.00 price objective on Barrick Mining and gave the stock an "outperform" rating in a research report on Friday, October 10th. Canaccord Genuity Group boosted their price objective on Barrick Mining from $39.00 to $57.00 and gave the stock a "buy" rating in a research report on Thursday, October 9th. Cibc World Mkts raised Barrick Mining from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Wall Street Zen raised Barrick Mining from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 11th. Finally, Citigroup boosted their price objective on Barrick Mining from $21.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $41.00.
Check Out Our Latest Analysis on Barrick Mining
Barrick Mining Trading Down 6.3%
Barrick Mining stock opened at $33.41 on Monday. The business has a 50 day moving average price of $29.71 and a two-hundred day moving average price of $23.49. 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 stock has a market cap of $56.88 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 0.42 and a beta of 0.30. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $36.40.
Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings results on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. The firm had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The company's revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 EPS. As a group, equities analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.
Barrick Mining Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 annualized dividend and a yield of 1.8%. Barrick Mining's dividend payout ratio is 37.74%.
Barrick Mining Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding B? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX.
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