SeaCrest Wealth Management LLC Invests $261,000 in Barrick Mining Corporation $B

SeaCrest Wealth Management LLC acquired a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,521 shares of the gold and copper producer's stock, valued at approximately $261,000.

Several other institutional investors also recently bought and sold shares of B. Perpetual Ltd acquired a new stake in shares of Barrick Mining in the 2nd quarter worth $63,419,000. Assenagon Asset Management S.A. purchased a new position in shares of Barrick Mining during the 2nd quarter valued at about $50,139,000. Systrade AG purchased a new position in shares of Barrick Mining during the 2nd quarter valued at about $41,640,000. Ninety One UK Ltd increased its stake in shares of Barrick Mining by 20.7% in the 1st quarter. Ninety One UK Ltd now owns 8,208,676 shares of the gold and copper producer's stock valued at $159,577,000 after purchasing an additional 1,405,207 shares in the last quarter. Finally, Auto Owners Insurance Co increased its stake in shares of Barrick Mining by 10,194.1% in the 1st quarter. Auto Owners Insurance Co now owns 1,050,000 shares of the gold and copper producer's stock valued at $20,412,000 after purchasing an additional 1,039,800 shares in the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Stock Up 7.2%

Barrick Mining stock opened at $35.37 on Tuesday. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $35.70. The stock's fifty day simple moving average is $25.12 and its 200-day simple moving average is $21.54. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $60.23 billion, a P/E ratio of 22.25, a P/E/G ratio of 0.58 and a beta of 0.27.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, meeting the consensus estimate 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 analyst estimates of $3.60 billion. During the same quarter in the prior year, the company posted $0.32 earnings per share. Barrick Mining's revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, equities analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining's dividend payout ratio is currently 37.74%.

Wall Street Analyst Weigh In

B has been the subject of several recent analyst reports. National Bankshares upgraded Barrick Mining to an "outperform" rating in a research note on Monday. BMO Capital Markets reiterated a "market perform" rating on shares of Barrick Mining in a report on Monday. Royal Bank Of Canada set a $38.00 price objective on Barrick Mining and gave the stock an "outperform" rating in a report on Monday. TD Securities lifted their price objective on Barrick Mining from $30.00 to $38.00 and gave the stock a "buy" rating in a report on Monday. Finally, Zacks Research cut Barrick Mining from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $33.33.

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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