Wealthfront Advisers LLC Makes New $277,000 Investment in Barrick Mining Corporation (NYSE:B)

Wealthfront Advisers LLC purchased a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,237 shares of the gold and copper producer's stock, valued at approximately $277,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new position in Barrick Mining during the fourth quarter valued at approximately $26,000. Vega Investment Solutions purchased a new position in Barrick Mining during the fourth quarter valued at approximately $31,000. Nexus Investment Management ULC purchased a new position in Barrick Mining during the first quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL purchased a new position in Barrick Mining during the fourth quarter valued at approximately $37,000. Finally, Ameriflex Group Inc. purchased a new position in Barrick Mining during the fourth quarter valued at approximately $39,000. Institutional investors own 90.82% of the company's stock.

Barrick Mining Stock Performance

NYSE B traded up $0.08 on Friday, reaching $21.62. 4,517,166 shares of the stock were exchanged, compared to its average volume of 20,154,816. Barrick Mining Corporation has a one year low of $15.11 and a one year high of $21.95. The firm has a market capitalization of $36.88 billion, a PE ratio of 16.27, a PEG ratio of 0.33 and a beta of 0.28. The company's 50-day simple moving average is $20.46 and its two-hundred day simple moving average is $18.92. 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 (NYSE:B - Get Free Report) TSE: ABX last released 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 firm had revenue of $3 billion for the quarter, compared to analysts' expectations of $3.15 billion. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share. Analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, May 30th. Barrick Mining's dividend payout ratio (DPR) is presently 30.08%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. BMO Capital Markets assumed coverage on shares of Barrick Mining in a research note on Wednesday, April 16th. They issued a "market perform" rating for the company. CIBC boosted their price target on shares of Barrick Mining from $24.00 to $28.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Citigroup cut their price target on shares of Barrick Mining from $21.00 to $17.00 and set a "neutral" rating for the company in a research note on Monday, March 31st. UBS Group boosted their price target on shares of Barrick Mining from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Finally, Royal Bank Of Canada set a $26.00 price target on shares of Barrick Mining and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $24.41.

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.