Farther Finance Advisors LLC Acquires New Position in Barrick Mining Corporation $B

Key Points

• Farther Finance Advisors LLC has acquired a new position in Barrick Mining Corporation, purchasing 10,324 shares valued at approximately $215,000.
• Barrick Mining recently reported a quarterly EPS of $0.47, matching analysts' expectations, with a significant revenue increase of 16.4% year-over-year.
• The company has cut its quarterly dividend to $0.15 per share, resulting in an annualized yield of 1.8%.

Farther Finance Advisors LLC acquired a new stake 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 institutional investor acquired 10,324 shares of the gold and copper producer's stock, valued at approximately $215,000.

Several other institutional investors also recently bought and sold shares of B. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Barrick Mining during the 1st quarter valued at about $32,000. Financial Management Professionals Inc. boosted its holdings in shares of Barrick Mining by 94.5% during the 1st quarter. Financial Management Professionals Inc. now owns 2,433 shares of the gold and copper producer's stock valued at $47,000 after acquiring an additional 1,182 shares during the last quarter. Continuum Advisory LLC boosted its holdings in shares of Barrick Mining by 117.7% during the 1st quarter. Continuum Advisory LLC now owns 2,432 shares of the gold and copper producer's stock valued at $47,000 after acquiring an additional 1,315 shares during the last quarter. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of Barrick Mining during the 2nd quarter valued at about $54,000. Finally, Penserra Capital Management LLC boosted its holdings in shares of Barrick Mining by 1,919.0% during the 1st quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer's stock valued at $56,000 after acquiring an additional 2,821 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Stock Performance

B opened at $33.72 on Thursday. 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 company has a market cap of $57.42 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 0.54 and a beta of 0.30. The company's 50 day moving average is $26.88 and its 200 day moving average is $22.23. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $36.10.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings data 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 net margin of 19.99% and a return on equity of 8.19%. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter last year, the firm posted $0.32 earnings per share. The firm's revenue was up 16.4% compared to the same quarter last year. On average, equities research analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $0.15 per share. The ex-dividend date 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 37.74%.

Analyst Ratings Changes

A number of analysts have recently issued reports on B shares. Wall Street Zen downgraded shares of Barrick Mining from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. National Bank Financial raised shares of Barrick Mining from a "sector perform" rating to an "outperform" rating in a report on Monday, September 22nd. Scotiabank raised their price target on shares of Barrick Mining from $25.00 to $26.00 and gave the company a "sector perform" rating in a report on Wednesday, August 13th. Raymond James Financial raised their price target on shares of Barrick Mining from $32.00 to $36.00 and gave the company an "outperform" rating in a report on Monday, September 22nd. Finally, Cibc World Mkts raised shares of Barrick Mining from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $33.33.

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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