Moran Wealth Management LLC Has $10.89 Million Stake in Barrick Mining Corporation $B

Key Points

• Moran Wealth Management LLC increased its stake in Barrick Mining by 91.3% in the first quarter, ending with 267,263 shares valued at about $10.89 million.
• Wall Street remains cautiously positive on the stock, with a Moderate Buy consensus and an average price target of $53.15, though some firms recently trimmed ratings or targets.
• Barrick Mining reported Q1 earnings of $0.98 per share, beating estimates, while revenue rose 66.7% year over year; the company also paid a quarterly dividend of $0.175 per share.

Moran Wealth Management LLC boosted its position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 91.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 267,263 shares of the gold and copper producer's stock after acquiring an additional 127,542 shares during the quarter. Moran Wealth Management LLC's holdings in Barrick Mining were worth $10,889,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Bogart Wealth LLC increased its stake in shares of Barrick Mining by 3.5% during the 4th quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer's stock worth $281,000 after purchasing an additional 218 shares during the last quarter. Parvin Asset Management LLC lifted its stake in Barrick Mining by 0.7% in the 4th quarter. Parvin Asset Management LLC now owns 33,385 shares of the gold and copper producer's stock valued at $1,454,000 after purchasing an additional 225 shares during the last quarter. Silver Oak Securities Incorporated lifted its stake in Barrick Mining by 2.9% in the 1st quarter. Silver Oak Securities Incorporated now owns 8,810 shares of the gold and copper producer's stock valued at $359,000 after purchasing an additional 246 shares during the last quarter. Mmbg Investment Advisors CO. lifted its position in shares of Barrick Mining by 0.6% in the fourth quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer's stock valued at $1,892,000 after buying an additional 254 shares during the last quarter. Finally, S.A. Mason LLC boosted its stake in shares of Barrick Mining by 1.3% during the 4th quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer's stock worth $1,007,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 90.82% of the company's stock.

Wall Street Analysts Forecast Growth

B has been the topic of a number of recent analyst reports. ATB Cormark Capital Markets lowered Barrick Mining from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 7th. Canadian Imperial Bank of Commerce cut their price target on Barrick Mining to $63.00 and set an "outperformer" rating for the company in a report on Tuesday, April 21st. Barclays started coverage on shares of Barrick Mining in a research report on Thursday, May 21st. They set an "equal weight" rating and a $41.00 price objective for the company. Weiss Ratings downgraded shares of Barrick Mining from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, May 11th. Finally, UBS Group dropped their price objective on shares of Barrick Mining from $54.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $53.15.

Barrick Mining Price Performance

Barrick Mining stock opened at $38.22 on Friday. Barrick Mining Corporation has a 12 month low of $20.52 and a 12 month high of $54.69. The stock's 50 day moving average is $40.47 and its 200-day moving average is $43.60. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $63.57 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 1.09 and a beta of 0.48.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.18. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The company's revenue for the quarter was up 66.7% on a year-over-year basis. Equities research analysts expect that Barrick Mining Corporation will post 3.78 EPS for the current year.

Barrick Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a dividend of $0.175 per share. The ex-dividend date was Friday, May 29th. This represents a $0.70 annualized dividend and a yield of 1.8%. Barrick Mining's dividend payout ratio (DPR) is presently 19.34%.

About Barrick Mining

Barrick Gold Corporation, commonly known as Barrick, is a Toronto‑headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large‑scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.

The company's activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.

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