Wealthfront Advisers LLC Acquires Shares of 14,237 Barrick Mining Corporation (NYSE:B)

Wealthfront Advisers LLC acquired a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 14,237 shares of the gold and copper producer's stock, valued at approximately $277,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in B. Capital International Investors lifted its position in Barrick Mining by 136.1% in the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock worth $516,055,000 after buying an additional 19,189,830 shares in the last quarter. Causeway Capital Management LLC acquired a new position in Barrick Mining during the 4th quarter valued at $172,225,000. Wellington Management Group LLP raised its stake in Barrick Mining by 17.5% during the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer's stock valued at $996,802,000 after purchasing an additional 9,598,292 shares during the last quarter. FIL Ltd raised its stake in Barrick Mining by 236.7% during the 4th quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer's stock valued at $105,692,000 after purchasing an additional 4,791,663 shares during the last quarter. Finally, Capital International Inc. CA acquired a new position in Barrick Mining during the 4th quarter valued at $57,991,000. Hedge funds and other institutional investors own 90.82% of the company's stock.

Barrick Mining Stock Performance

Shares of NYSE:B traded up $0.24 during midday trading on Friday, reaching $21.78. The company had a trading volume of 13,246,734 shares, compared to its average volume of 9,392,584. The stock has a market cap of $37.15 billion, a P/E ratio of 16.37, a P/E/G ratio of 0.33 and a beta of 0.28. The company's 50 day moving average price is $20.54 and its 200 day moving average price is $18.96. 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 Corporation has a 52-week low of $15.11 and a 52-week high of $21.95.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.15 billion. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. The firm's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the company earned $0.19 earnings per share. As a group, sell-side analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.84%. Barrick Mining's dividend payout ratio (DPR) is currently 30.08%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on B shares. CIBC lifted their price target on Barrick Mining from $24.00 to $28.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Raymond James Financial raised their target price on Barrick Mining from $23.00 to $23.50 and gave the stock an "outperform" rating in a report on Monday, March 31st. BMO Capital Markets initiated coverage on Barrick Mining in a research note on Wednesday, April 16th. They set a "market perform" rating for the company. Scotiabank upped their target price on shares of Barrick Mining from $20.00 to $22.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. Finally, Royal Bank Of Canada set a $26.00 target price on Barrick Mining and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $24.41.

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.