DAVENPORT & Co LLC Makes New $1.67 Million Investment in Barrick Mining Corporation $B

Key Points

• DAVENPORT & Co LLC has invested $1.67 million in Barrick Mining Corporation, acquiring 80,039 shares during the 2nd quarter.
• Analyst ratings for Barrick Mining show a consensus average rating of "Moderate Buy" with a price target of $36.50.
• Barrick Mining's recent quarterly earnings met analyst expectations, reporting $0.47 EPS and a revenue increase of 16.4% year-over-year.

DAVENPORT & Co LLC purchased a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 80,039 shares of the gold and copper producer's stock, valued at approximately $1,666,000.

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

Analyst Ratings Changes

B has been the topic of a number of research analyst reports. Royal Bank Of Canada upped their target price on shares of Barrick Mining from $34.00 to $38.00 and gave the company an "outperform" rating in a report on Monday, September 22nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Barrick Mining in a report on Saturday, September 27th. Zacks Research cut shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Cibc World Mkts raised shares of Barrick Mining from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Barrick Mining in a report on Wednesday, September 24th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $36.50.

Barrick Mining Stock Down 2.6%

Shares of B opened at $33.03 on Friday. Barrick Mining Corporation has a 52 week low of $15.11 and a 52 week high of $36.10. The firm has a market cap of $56.24 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 0.56 and a beta of 0.30. The firm's 50-day simple moving average is $28.35 and its 200 day simple moving average is $22.83. 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 announced its quarterly earnings results on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, meeting analysts' consensus estimates of $0.47. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same quarter in the prior year, the business earned $0.32 EPS. Barrick Mining's quarterly revenue was up 16.4% on a year-over-year basis. On average, analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Cuts Dividend

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