Legend Financial Advisors Inc. Takes Position in Barrick Mining Corporation $B

Key Points

• Legend Financial Advisors Inc. has acquired a new stake in Barrick Mining Corporation, purchasing 44,740 shares valued at approximately $931,000, making it the 22nd largest holding in their portfolio.
• Barrick Mining's latest quarterly earnings report shows a net revenue of $3.72 billion, up 16.4% year-over-year, with earnings per share matching analysts' expectations at $0.47.
• The company recently declared a quarterly dividend of $0.15, representing an annual yield of 1.7%, with a current dividend payout ratio of 37.74%.

Legend Financial Advisors Inc. purchased a new stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 44,740 shares of the gold and copper producer's stock, valued at approximately $931,000. Barrick Mining accounts for approximately 0.6% of Legend Financial Advisors Inc.'s portfolio, making the stock its 22nd biggest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SJS Investment Consulting Inc. acquired a new position in shares of Barrick Mining during the second quarter valued at $29,000. Nexus Investment Management ULC acquired a new position in shares of Barrick Mining during the first quarter valued at $32,000. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Barrick Mining during the first quarter valued at $32,000. Ameriflex Group Inc. acquired a new position in shares of Barrick Mining during the fourth quarter valued at $39,000. Finally, AdvisorNet Financial Inc acquired a new position in shares of Barrick Mining during the second quarter valued at $39,000. Institutional investors and hedge funds own 90.82% of the company's stock.

Barrick Mining Price Performance

Shares of NYSE B opened at $34.30 on Friday. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $36.10. 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 capitalization of $58.41 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 0.59 and a beta of 0.28. The firm has a 50-day moving average of $25.91 and a two-hundred day moving average of $21.82.

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 for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $3.60 billion. During the same period in the prior year, the company earned $0.32 EPS. Barrick Mining's revenue was up 16.4% on a year-over-year basis. As a group, analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining's dividend payout ratio is presently 37.74%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on B shares. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Barrick Mining in a report on Wednesday. National Bankshares raised shares of Barrick Mining to an "outperform" rating in a report on Monday. Raymond James Financial upped their price objective on shares of Barrick Mining from $32.00 to $36.00 and gave the stock an "outperform" rating in a report on Monday. UBS Group upped their price objective on shares of Barrick Mining from $26.00 to $35.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Finally, Bank of America upped their price objective on shares of Barrick Mining from $29.00 to $34.00 and gave the stock a "neutral" rating in a report on Friday, September 19th. Two 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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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