Ritholtz Wealth Management Makes New Investment in Barrick Mining Corporation $B

Key Points

• Ritholtz Wealth Management has acquired 18,144 shares of Barrick Mining Corporation, valued at approximately $378,000, in the 2nd quarter.
• Barrick Mining reported earnings per share of $0.47 for the last quarter, meeting analysts' expectations, with a revenue increase of 16.4% year-over-year.
• The company's recent quarterly dividend was declared at $0.15 per share, with a yield of 1.7%, reflecting their current dividend payout ratio of 37.74%.

Ritholtz Wealth Management acquired a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 18,144 shares of the gold and copper producer's stock, valued at approximately $378,000.

Other hedge funds also recently made changes to their positions in the company. Vermillion Wealth Management Inc. purchased a new position in shares of Barrick Mining during the second quarter worth about $25,000. Crowley Wealth Management Inc. purchased a new position in shares of Barrick Mining during the second quarter worth about $26,000. Concord Wealth Partners purchased a new position in shares of Barrick Mining during the second quarter worth about $26,000. Ameriflex Group Inc. purchased a new position in shares of Barrick Mining during the second quarter worth about $27,000. Finally, Trifecta Capital Advisors LLC purchased a new position in shares of Barrick Mining during the second quarter worth about $27,000. Hedge funds and other institutional investors own 90.82% of the company's stock.

Barrick Mining Price Performance

Shares of B opened at $34.75 on Tuesday. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $36.40. The stock's 50 day moving average is $29.95 and its two-hundred day moving average is $23.61. The firm has a market capitalization of $59.18 billion, a PE ratio of 21.86, a P/E/G ratio of 0.42 and a beta of 0.30. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share 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 company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same quarter in the previous year, the company earned $0.32 EPS. The firm's revenue for the quarter was up 16.4% compared to the same quarter last year. Research analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, August 29th. Barrick Mining's dividend payout ratio (DPR) is presently 37.74%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on B shares. Cibc World Mkts raised Barrick Mining from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Scotiabank raised their price target on Barrick Mining from $25.00 to $26.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 13th. National Bankshares raised Barrick Mining to an "outperform" rating in a report on Monday, September 22nd. UBS Group raised their price target on Barrick Mining from $35.00 to $39.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Raymond James Financial set a $40.00 price target on Barrick Mining and gave the stock an "outperform" rating in a report on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Barrick Mining has a consensus rating of "Moderate Buy" and an average price target of $41.00.

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.

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