Plancorp LLC Takes $5.42 Million Position in Barrick Mining Corporation $B

Key Points

• Plancorp LLC has acquired a new stake in Barrick Mining Corporation valued at approximately $5.42 million, representing 260,299 shares of the company.
• Barrick Mining reported a 16.4% increase in quarterly revenue year-over-year, amounting to $3.72 billion, alongside earnings per share that met analyst estimates at $0.47.
• The firm recently declared a quarterly dividend of $0.15 per share, resulting in an annualized dividend yield of 1.8% and a payout ratio of 37.74%.

Plancorp LLC acquired a new stake in 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. The fund acquired 260,299 shares of the gold and copper producer's stock, valued at approximately $5,419,000.

Several other institutional investors and hedge funds have also modified their holdings of B. Farther Finance Advisors LLC increased its stake in shares of Barrick Mining by 21.8% in the 1st quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer's stock valued at $62,000 after purchasing an additional 563 shares in the last quarter. Sapient Capital LLC increased its stake in shares of Barrick Mining by 0.5% in the 1st quarter. Sapient Capital LLC now owns 114,572 shares of the gold and copper producer's stock valued at $2,227,000 after purchasing an additional 624 shares in the last quarter. Kestra Private Wealth Services LLC increased its stake in shares of Barrick Mining by 2.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer's stock valued at $558,000 after purchasing an additional 710 shares in the last quarter. Nicholas Hoffman & Company LLC. increased its stake in shares of Barrick Mining by 1.5% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer's stock valued at $924,000 after purchasing an additional 716 shares in the last quarter. Finally, Edge Wealth Management LLC increased its stake in shares of Barrick Mining by 6.1% in the 1st quarter. Edge Wealth Management LLC now owns 13,110 shares of the gold and copper producer's stock valued at $255,000 after purchasing an additional 755 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company's stock.

Barrick Mining Price Performance

B stock opened at $33.61 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53. The business has a 50 day simple moving average of $25.64 and a 200-day simple moving average of $21.71. The firm has a market capitalization of $57.23 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 0.61 and a beta of 0.28. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $36.10.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, meeting 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 analysts' expectations of $3.60 billion. During the same period in the prior year, the firm posted $0.32 earnings per share. The firm's quarterly revenue was up 16.4% on a year-over-year basis. Equities research analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $0.15 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a yield of 1.8%. Barrick Mining's dividend payout ratio is currently 37.74%.

Analyst Ratings Changes

Several equities analysts recently weighed in on B shares. Sanford C. Bernstein restated an "outperform" rating on shares of Barrick Mining in a research note on Wednesday. TD Securities lifted their price target on Barrick Mining from $30.00 to $38.00 and gave the company a "buy" rating in a research note on Monday. BMO Capital Markets restated a "market perform" rating on shares of Barrick Mining in a research note on Monday. Bank of America lifted their price target on Barrick Mining from $29.00 to $34.00 and gave the company a "neutral" rating in a research note on Friday, September 19th. Finally, Royal Bank Of Canada lifted their price target on Barrick Mining from $34.00 to $38.00 and gave the company an "outperform" rating in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Barrick Mining currently has an average rating of "Moderate Buy" and an average target price 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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