U.S. Capital Wealth Advisors LLC Invests $1.48 Million in Barrick Mining Corporation $B

Key Points

• U.S. Capital Wealth Advisors LLC invested approximately $1.48 million in Barrick Mining Corporation, acquiring 71,020 shares during the second quarter.
• Analysts have been optimistic about Barrick Mining, with TD Securities and Royal Bank of Canada both raising their price targets to $38.00 and maintaining "buy" ratings.
• Barrick Mining reported a 16.4% year-over-year increase in revenue, totaling $3.72 billion for the latest quarter, while also distributing a quarterly dividend of $0.15 per share.

U.S. Capital Wealth Advisors LLC bought a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 71,020 shares of the gold and copper producer's stock, valued at approximately $1,479,000.

Other large investors have also recently made changes to their positions in the company. Penserra Capital Management LLC raised its holdings in shares of Barrick Mining by 1,919.0% in the 1st quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer's stock valued at $56,000 after purchasing an additional 2,821 shares in the last quarter. Hedges Asset Management LLC bought a new position in Barrick Mining in the second quarter worth approximately $1,249,000. Chemistry Wealth Management LLC purchased a new stake in Barrick Mining during the second quarter worth $246,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Barrick Mining by 14.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer's stock worth $1,141,000 after buying an additional 9,149 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its position in Barrick Mining by 24.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer's stock valued at $404,000 after acquiring an additional 4,082 shares in the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

B has been the subject of a number of analyst reports. TD Securities upped their price objective on Barrick Mining from $30.00 to $38.00 and gave the stock a "buy" rating in a research note on Monday. Royal Bank Of Canada raised their price target on shares of Barrick Mining from $34.00 to $38.00 and gave the company an "outperform" rating in a report on Monday. BMO Capital Markets reiterated a "market perform" rating on shares of Barrick Mining in a research note on Monday. CIBC reissued an "outperform" rating on shares of Barrick Mining in a research report on Monday. Finally, Cibc World Mkts raised shares of Barrick Mining from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Barrick Mining presently has an average rating of "Moderate Buy" and an average target price of $33.33.

Barrick Mining Stock Performance

Shares of B stock opened at $33.61 on Thursday. The business has a fifty day moving average of $25.64 and a 200 day moving average of $21.71. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $36.10. 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 firm has a market capitalization of $57.23 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 0.61 and a beta of 0.28.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its earnings results 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 analyst estimates of $3.60 billion. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Barrick Mining's revenue for the quarter was up 16.4% on a year-over-year basis. As a group, research analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Cuts Dividend

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

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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