Klein Pavlis & Peasley Financial Inc. Purchases New Holdings in Barrick Mining Corporation $B

Key Points

• Klein Pavlis & Peasley Financial Inc. acquired 84,518 shares of Barrick Mining Corporation, valued at approximately $1.76 million, which makes up 1.2% of its portfolio and is its 29th largest position.
• Barrick Mining reported a net revenue of $3.72 billion for the quarter, exceeding analyst expectations, with an earnings per share of $0.47.
• The company recently announced a quarterly dividend of $0.15, resulting in an annualized yield of 1.7%, while its dividend payout ratio stands at 37.74%.

Klein Pavlis & Peasley Financial Inc. acquired a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 84,518 shares of the gold and copper producer's stock, valued at approximately $1,760,000. Barrick Mining accounts for about 1.2% of Klein Pavlis & Peasley Financial Inc.'s portfolio, making the stock its 29th biggest position.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vermillion Wealth Management Inc. purchased a new stake in shares of Barrick Mining during the second quarter worth approximately $25,000. Crowley Wealth Management Inc. purchased a new position in Barrick Mining during the 2nd quarter worth $26,000. SJS Investment Consulting Inc. acquired a new stake in shares of Barrick Mining in the 2nd quarter worth $29,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Barrick Mining in the 1st quarter worth $32,000. Finally, AdvisorNet Financial Inc purchased a new stake in shares of Barrick Mining in the second quarter valued at about $39,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Stock Performance

NYSE B opened at $34.47 on Monday. The business has a 50 day moving average price of $26.18 and a 200 day moving average price of $21.98. The company has a market capitalization of $58.70 billion, a P/E ratio of 21.68, a PEG ratio of 0.60 and a beta of 0.27. Barrick Mining Corporation has a 1-year low of $15.11 and a 1-year high of $36.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same period last year, the firm posted $0.32 EPS. The firm's revenue for the quarter was up 16.4% on a year-over-year basis. Sell-side analysts expect 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. Investors of record on Friday, August 29th were paid 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 yield of 1.7%. Barrick Mining's dividend payout ratio is presently 37.74%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. BMO Capital Markets reissued a "market perform" rating on shares of Barrick Mining in a report on Monday, September 22nd. National Bank Financial raised Barrick Mining from a "sector perform" rating to an "outperform" rating in a research note on Monday, September 22nd. Royal Bank Of Canada lifted their price target on Barrick Mining from $34.00 to $38.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. Bank of America upped their price objective on Barrick Mining from $29.00 to $34.00 and gave the stock a "neutral" rating in a report on Friday, September 19th. Finally, TD Securities raised their target price on Barrick Mining from $30.00 to $38.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Barrick Mining has a consensus rating of "Moderate Buy" and a consensus price target of $33.33.

About Barrick Mining

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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