New Wave Wealth Advisors LLC Invests $217,000 in Barrick Mining Corporation $B

Key Points

• New Wave Wealth Advisors LLC has invested approximately $217,000 in Barrick Mining Corporation, acquiring 10,425 shares during the second quarter.
• Barrick Mining's stock recently received upgraded price targets from several research firms, with a consensus rating of "Moderate Buy" and an average price target of $33.33.
• The company announced a quarterly dividend of $0.15 per share, resulting in an annualized dividend yield of 1.8%, with a payout ratio of 37.74%.

New Wave Wealth Advisors LLC purchased a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,425 shares of the gold and copper producer's stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in shares of Barrick Mining by 21.8% in the first quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer's stock worth $62,000 after purchasing an additional 563 shares during the last quarter. Sapient Capital LLC lifted its position in Barrick Mining by 0.5% during the first quarter. Sapient Capital LLC now owns 114,572 shares of the gold and copper producer's stock valued at $2,227,000 after buying an additional 624 shares during the period. Kestra Private Wealth Services LLC lifted its position in Barrick Mining by 2.5% during the first quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer's stock valued at $558,000 after buying an additional 710 shares during the period. Nicholas Hoffman & Company LLC. lifted its position in Barrick Mining by 1.5% during the first quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer's stock valued at $924,000 after buying an additional 716 shares during the period. Finally, Edge Wealth Management LLC lifted its position in Barrick Mining by 6.1% during the first quarter. Edge Wealth Management LLC now owns 13,110 shares of the gold and copper producer's stock valued at $255,000 after buying an additional 755 shares during the period. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on B. Scotiabank lifted their price target on Barrick Mining from $25.00 to $26.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 13th. National Bankshares upgraded Barrick Mining to an "outperform" rating in a report on Monday, September 22nd. Zacks Research downgraded Barrick Mining from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. TD Securities lifted their price objective on Barrick Mining from $30.00 to $38.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. Finally, Bank of America lifted 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. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $33.33.

Barrick Mining Trading Up 2.9%

Barrick Mining stock opened at $33.72 on Thursday. The business has a 50-day simple moving average of $26.88 and a two-hundred day simple moving average of $22.23. The company has a market cap of $57.42 billion, a P/E ratio of 21.21, a P/E/G ratio of 0.54 and a beta of 0.30. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. Barrick Mining Corporation has a 52-week low of $15.11 and a 52-week high of $36.10.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.47. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The firm's revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 EPS. Analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $0.15 per share. The ex-dividend date 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%.

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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