Klein Pavlis & Peasley Financial Inc. Grows Stock Holdings in Barrick Mining Corporation (NYSE:B)

Key Points

• Klein Pavlis & Peasley Financial Inc. increased its stake in Barrick Mining Corporation by 18.3%, owning 78,319 shares valued at approximately $1.54 million.
• Institutional investors and hedge funds collectively own 90.82% of Barrick Mining's stock, indicating strong institutional support.
• Wall Street analysts suggest a moderate buy rating for Barrick Mining, with an average target price of $24.41.

Klein Pavlis & Peasley Financial Inc. boosted its stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 18.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 78,319 shares of the gold and copper producer's stock after buying an additional 12,097 shares during the period. Barrick Mining makes up approximately 1.1% of Klein Pavlis & Peasley Financial Inc.'s holdings, making the stock its 28th biggest holding. Klein Pavlis & Peasley Financial Inc.'s holdings in Barrick Mining were worth $1,540,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in B. Vega Investment Solutions acquired a new position in shares of Barrick Mining during the 4th quarter worth about $31,000. Nexus Investment Management ULC acquired a new stake in shares of Barrick Mining in the 1st quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Barrick Mining during the 4th quarter worth approximately $37,000. Ameriflex Group Inc. acquired a new position in shares of Barrick Mining during the 4th quarter worth approximately $39,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Barrick Mining by 55.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer's stock valued at $43,000 after acquiring an additional 785 shares during the period. Institutional investors and hedge funds own 90.82% of the company's stock.

Analyst Upgrades and Downgrades

B has been the subject of a number of research reports. Scotiabank increased their target price on shares of Barrick Mining from $20.00 to $22.00 and gave the stock a "sector perform" rating in a report on Monday, April 14th. Royal Bank Of Canada set a $26.00 price objective on Barrick Mining and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. CIBC upped their target price on Barrick Mining from $24.00 to $28.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Wall Street Zen upgraded shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 5th. Finally, BMO Capital Markets assumed coverage on shares of Barrick Mining in a research note on Wednesday, April 16th. They set a "market perform" rating for the company. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Barrick Mining presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.41.

Barrick Mining Price Performance

B stock traded up $0.85 during midday trading on Monday, reaching $22.22. The company had a trading volume of 16,789,590 shares, compared to its average volume of 10,406,852. The firm has a 50-day moving average price of $20.80 and a 200-day moving average price of $19.20. The company has a market capitalization of $37.91 billion, a P/E ratio of 16.71, a P/E/G ratio of 0.32 and a beta of 0.27. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $22.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 2.16.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.15 billion. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. Barrick Mining's revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 earnings per share. On average, research analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, May 30th. Barrick Mining's payout ratio is presently 30.08%.

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.