Glass Wealth Management Co LLC Acquires New Stake in Barrick Mining Corporation $B

Key Points

• Glass Wealth Management Co LLC has acquired 191,225 shares of Barrick Mining Corporation, valued at approximately $3.98 million, representing 2.1% of their investment portfolio.
• Barrick Mining reported earnings of $0.47 per share, meeting analysts' expectations, with revenues of $3.72 billion for the recent quarter, marking a 16.4% increase year-over-year.
• The company's recent quarterly dividend was set at $0.15 per share, with an annualized dividend yield of 1.8% and a payout ratio of 37.74%.

Glass Wealth Management Co LLC acquired a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 191,225 shares of the gold and copper producer's stock, valued at approximately $3,981,000. Barrick Mining makes up 2.1% of Glass Wealth Management Co LLC's investment portfolio, making the stock its 16th biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in B. Farther Finance Advisors LLC lifted its stake in shares of Barrick Mining by 21.8% during the first quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer's stock valued at $62,000 after buying an additional 563 shares during the period. Sapient Capital LLC grew its stake in Barrick Mining by 0.5% in the 1st quarter. Sapient Capital LLC now owns 114,572 shares of the gold and copper producer's stock worth $2,227,000 after acquiring an additional 624 shares during the period. Kestra Private Wealth Services LLC raised its holdings in Barrick Mining by 2.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer's stock valued at $558,000 after acquiring an additional 710 shares during the last quarter. Nicholas Hoffman & Company LLC. lifted its stake in shares of Barrick Mining by 1.5% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer's stock worth $924,000 after purchasing an additional 716 shares during the period. Finally, Wedbush Securities Inc. boosted its holdings in shares of Barrick Mining by 5.9% during the first quarter. Wedbush Securities Inc. now owns 18,629 shares of the gold and copper producer's stock worth $362,000 after purchasing an additional 1,031 shares during the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Stock Performance

Shares of B opened at $33.94 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53. The firm's 50 day moving average is $27.37 and its 200-day moving average is $22.48. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $36.10. The stock has a market capitalization of $57.78 billion, a P/E ratio of 21.34, a P/E/G ratio of 0.56 and a beta of 0.30.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, hitting analysts' consensus estimates 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 net margin of 19.99% and a return on equity of 8.19%. The firm's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. Equities research analysts anticipate 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. Stockholders of record on Friday, August 29th were given a dividend of $0.15 per share. 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 37.74%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on B shares. Bank of America increased their target price on Barrick Mining from $29.00 to $34.00 and gave the stock a "neutral" rating in a research report on Friday, September 19th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Barrick Mining in a report on Wednesday, September 24th. National Bank Financial upgraded shares of Barrick Mining from a "sector perform" rating to an "outperform" rating in a report on Monday, September 22nd. Zacks Research lowered shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Barrick Mining in a report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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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