PCG Wealth Advisors LLC Invests $1.06 Million in Barrick Mining Corporation (NYSE:B)

PCG Wealth Advisors LLC purchased a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 54,645 shares of the gold and copper producer's stock, valued at approximately $1,062,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital International Investors lifted its stake in Barrick Mining by 136.1% in the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock worth $516,055,000 after purchasing an additional 19,189,830 shares in the last quarter. Causeway Capital Management LLC purchased a new position in Barrick Mining during the fourth quarter worth approximately $172,225,000. Wellington Management Group LLP boosted its stake in Barrick Mining by 17.5% during the fourth quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer's stock worth $996,802,000 after buying an additional 9,598,292 shares during the last quarter. FIL Ltd boosted its position in shares of Barrick Mining by 236.7% during the 4th quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer's stock valued at $105,692,000 after acquiring an additional 4,791,663 shares during the last quarter. Finally, Capital International Inc. CA purchased a new stake in shares of Barrick Mining in the 4th quarter valued at approximately $57,991,000. Hedge funds and other institutional investors own 90.82% of the company's stock.

Barrick Mining Price Performance

Barrick Mining stock traded down $0.09 during trading hours on Friday, hitting $20.72. The stock had a trading volume of 7,257,568 shares, compared to its average volume of 4,374,015. The stock has a market capitalization of $35.35 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 0.33 and a beta of 0.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 2.16. Barrick Mining Corporation has a 1-year low of $17.41 and a 1-year high of $47.50. The stock's fifty day moving average is $20.17 and its two-hundred day moving average is $18.76.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the business posted $0.19 earnings per share. Barrick Mining's revenue was up 13.9% compared to the same quarter last year. As a group, analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, May 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.93%. Barrick Mining's payout ratio is currently 30.08%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on B shares. UBS Group boosted their price objective on Barrick Mining from $22.00 to $25.00 and gave the company a "buy" rating in a report on Friday, April 11th. Citigroup cut their target price on Barrick Mining from $21.00 to $17.00 and set a "neutral" rating on the stock in a research report on Monday, March 31st. BMO Capital Markets assumed coverage on shares of Barrick Mining in a research note on Wednesday, April 16th. They set a "market perform" rating on the stock. Wall Street Zen upgraded shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. Finally, Scotiabank raised their price objective on Barrick Mining from $20.00 to $22.00 and gave the stock a "sector perform" rating in a report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $24.41.

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.