Edge Wealth Management LLC Takes $273,000 Position in Barrick Mining Corporation $B

Key Points

• Edge Wealth Management LLC invested approximately $273,000 in Barrick Mining Corporation by purchasing 13,120 shares during the second quarter.
• Barrick Mining reported earnings of $0.47 per share for the last quarter, meeting analysts' expectations, with a 16.4% increase in revenue year-over-year.
• Recent analyst ratings on Barrick Mining show a shift, with Wall Street Zen lowering its rating from "strong-buy" to "buy" while UBS raised its price target to $35.00.

Edge Wealth Management LLC purchased a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,120 shares of the gold and copper producer's stock, valued at approximately $273,000.

A number of other large investors have also recently added to or reduced their stakes in B. Whitener Capital Management Inc. bought a new position in shares of Barrick Mining in the 2nd quarter valued at about $1,434,000. Oak Asset Management LLC bought a new stake in shares of Barrick Mining during the 2nd quarter valued at approximately $593,000. Fruth Investment Management bought a new stake in shares of Barrick Mining during the 2nd quarter valued at approximately $391,000. Farther Finance Advisors LLC bought a new stake in Barrick Mining during the 2nd quarter worth approximately $215,000. Finally, Butensky & Cohen Financial Security Inc. acquired a new position in shares of Barrick Mining in the 2nd quarter worth approximately $3,632,000. Institutional investors own 90.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on B shares. Scotiabank upped their target price on shares of Barrick Mining from $25.00 to $26.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 13th. Royal Bank Of Canada set a $26.00 target price on shares of Barrick Mining and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Wall Street Zen downgraded shares of Barrick Mining from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Cibc World Mkts raised shares of Barrick Mining from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 12th. Finally, CIBC raised shares of Barrick Mining from a "neutral" rating to an "outperform" rating in a research note on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Barrick Mining presently has a consensus rating of "Moderate Buy" and an average price target of $28.78.

Barrick Mining Stock Performance

Shares of Barrick Mining stock traded up $2.92 on Friday, reaching $32.99. 71,157,049 shares of the stock were exchanged, compared to its average volume of 20,044,188. The business has a 50 day moving average price of $24.84 and a two-hundred day moving average price of $21.42. 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 firm has a market capitalization of $56.18 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 0.58 and a beta of 0.27. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $33.20.

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

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.8%. Barrick Mining's payout ratio is currently 37.74%.

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.