ORG Partners LLC Makes New $496,000 Investment in Barrick Mining Corporation $B

Key Points

• ORG Partners LLC made a new investment of approximately $496,000 in Barrick Mining Corporation during the second quarter, purchasing 23,776 shares.
• Major institutional investors have recently increased their stakes in Barrick Mining, with nearly 90.82% of the stock now owned by such investors.
• Despite a positive earnings report, analysts have mixed ratings on Barrick Mining, with a prevailing average rating of "Moderate Buy" and an average target price of $33.33.

ORG Partners LLC bought a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 23,776 shares of the gold and copper producer's stock, valued at approximately $496,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. acquired a new position in shares of Barrick Mining in the second quarter worth about $26,000. SJS Investment Consulting Inc. acquired a new position in Barrick Mining in the 2nd quarter worth approximately $29,000. Cary Street Partners Investment Advisory LLC acquired a new stake in Barrick Mining during the 1st quarter valued at $32,000. AdvisorNet Financial Inc acquired a new stake in Barrick Mining during the 2nd quarter valued at $39,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Barrick Mining by 55.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer's stock valued at $43,000 after purchasing an additional 785 shares in the last quarter. 90.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

B has been the topic of several recent research reports. Zacks Research lowered shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Sanford C. Bernstein reiterated an "outperform" rating on shares of Barrick Mining in a report on Wednesday. Wall Street Zen cut Barrick Mining from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. CIBC reissued an "outperform" rating on shares of Barrick Mining in a report on Monday, September 22nd. Finally, Bank of America raised their price objective on shares of Barrick Mining from $29.00 to $34.00 and gave the company a "neutral" rating in a report on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Barrick Mining presently has an average rating of "Moderate Buy" and an average target price of $33.33.

Barrick Mining Price Performance

Shares of NYSE B opened at $34.47 on Friday. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $36.10. The company has a 50 day simple moving average of $26.18 and a two-hundred day simple moving average of $21.96. The company has a market capitalization of $58.70 billion, a price-to-earnings ratio of 21.68, a P/E/G ratio of 0.60 and a beta of 0.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21.

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

Barrick Mining Cuts Dividend

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

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.

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