RFG Advisory LLC Makes New $1.29 Million Investment in Barrick Mining Corporation $B

Key Points

• RFG Advisory LLC has made a new investment in Barrick Mining Corporation, acquiring 62,086 shares valued at approximately $1.29 million.
• Recent analyst reports show mixed ratings for Barrick Mining, with Cibc World Mkts upgrading it to a "strong-buy," while Zacks Research has downgraded it to "hold," and the average price target has been set at $41.00.
• Barrick Mining reported a 16.4% year-over-year revenue increase, with quarterly earnings of $0.47 EPS, matching the consensus estimate, and also announced a quarterly dividend of $0.15 per share.

RFG Advisory LLC acquired a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 62,086 shares of the gold and copper producer's stock, valued at approximately $1,293,000.

Several other hedge funds and other institutional investors also recently modified their holdings of B. Vermillion Wealth Management Inc. acquired a new stake in Barrick Mining in the second quarter valued at about $25,000. Crowley Wealth Management Inc. bought a new position in Barrick Mining in the second quarter valued at about $26,000. Concord Wealth Partners bought a new position in Barrick Mining in the second quarter valued at about $26,000. Ameriflex Group Inc. bought a new position in Barrick Mining in the second quarter valued at about $27,000. Finally, Trifecta Capital Advisors LLC bought a new position in Barrick Mining in the second quarter valued at about $27,000. Institutional investors own 90.82% of the company's stock.

Analysts Set New Price Targets

B has been the topic of a number of recent analyst reports. Cibc World Mkts upgraded Barrick Mining from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Zacks Research cut Barrick Mining from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Bank of America lifted their target price on Barrick Mining from $36.00 to $38.00 and gave the company a "neutral" rating in a research report on Thursday. UBS Group boosted their price objective on Barrick Mining from $35.00 to $39.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Scotiabank boosted their price objective 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. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $41.00.

Barrick Mining Trading Up 2.7%

Shares of B stock opened at $35.61 on Friday. The firm has a market capitalization of $60.64 billion, a P/E ratio of 22.40, a P/E/G ratio of 0.57 and a beta of 0.30. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $36.40. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. The stock's fifty day simple moving average is $29.51 and its 200 day simple moving average is $23.34.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. The firm had revenue of $3.72 billion for 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 business's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 EPS. As a group, sell-side analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

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