Red Door Wealth Management LLC Buys New Holdings in Barrick Mining Corporation (NYSE:B)

Red Door Wealth Management LLC purchased a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,713 shares of the gold and copper producer's stock, valued at approximately $539,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in B. Vanguard Group Inc. grew its position in Barrick Mining by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 68,358,533 shares of the gold and copper producer's stock worth $1,060,036,000 after acquiring an additional 1,195,585 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of 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 purchasing an additional 9,598,292 shares during the last quarter. Capital International Investors increased its stake in shares of Barrick Mining by 136.1% in the fourth quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock valued at $516,055,000 after buying an additional 19,189,830 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Barrick Mining by 1.9% in the fourth quarter. Mackenzie Financial Corp now owns 15,318,376 shares of the gold and copper producer's stock valued at $237,280,000 after buying an additional 278,292 shares during the last quarter. Finally, Amundi lifted its position in Barrick Mining by 1.7% during the 4th quarter. Amundi now owns 14,120,278 shares of the gold and copper producer's stock worth $223,665,000 after buying an additional 236,116 shares in the last quarter. Institutional investors own 90.82% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on B shares. Royal Bank Of Canada boosted their target price on shares of Barrick Mining from $23.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Scotiabank upped 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. CIBC boosted their target price on Barrick Mining from $22.00 to $24.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 11th. Raymond James Financial lifted their price objective on Barrick Mining from $23.00 to $23.50 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Finally, National Bank Financial raised shares of Barrick Mining to a "hold" rating in a research note on Friday, March 21st. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $24.05.

Barrick Mining Stock Up 1.6%

Shares of B stock traded up $0.33 during trading hours on Wednesday, hitting $21.18. 5,162,955 shares of the company were exchanged, compared to its average volume of 3,731,726. The company has a market capitalization of $36.30 billion, a PE ratio of 15.92, a PEG ratio of 0.33 and a beta of 0.28. Barrick Mining Corporation has a 52 week low of $17.41 and a 52 week high of $47.50. The business has a 50 day moving average of $19.61 and a two-hundred day moving average of $18.29. The company has a current ratio of 2.87, a quick ratio of 2.16 and a debt-to-equity ratio of 0.14.

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 analysts' consensus estimates of $0.29 by $0.06. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.15 billion. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. The business's revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 EPS. Analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.40 annualized dividend and a yield of 1.89%. Barrick Mining's dividend payout ratio (DPR) is presently 30.08%.

About Barrick Mining

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.