JNBA Financial Advisors Takes $74,000 Position in Barrick Mining Corporation $B

JNBA Financial Advisors purchased a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,556 shares of the gold and copper producer’s stock, valued at approximately $74,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC lifted its stake in Barrick Mining by 1,919.0% in the first quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer’s stock valued at $56,000 after buying an additional 2,821 shares during the period. Hedges Asset Management LLC acquired a new position in Barrick Mining in the second quarter valued at about $1,249,000. Chemistry Wealth Management LLC acquired a new position in Barrick Mining in the second quarter valued at about $246,000. Sequoia Financial Advisors LLC lifted its stake in Barrick Mining by 24.4% in the first quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer’s stock valued at $404,000 after buying an additional 4,082 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in Barrick Mining by 25.9% in the first quarter. Janney Montgomery Scott LLC now owns 291,281 shares of the gold and copper producer’s stock valued at $5,663,000 after buying an additional 59,906 shares during the period. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Stock Down 1.0%

NYSE:B opened at $32.73 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. The company has a market cap of $55.72 billion, a PE ratio of 20.58, a PEG ratio of 0.54 and a beta of 0.30. Barrick Mining Corporation has a 52-week low of $15.11 and a 52-week high of $36.10. The stock has a 50-day simple moving average of $28.58 and a 200 day simple moving average of $22.95.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.Barrick Mining’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period last year, the company earned $0.32 earnings per share. On average, sell-side analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently disclosed 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. The ex-dividend date was Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.8%. Barrick Mining’s dividend payout ratio (DPR) is presently 37.74%.

Analyst Ratings Changes

B has been the topic of several analyst reports. Bank of America increased their target price on Barrick Mining from $29.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, September 19th. Raymond James Financial set a $40.00 price target on Barrick Mining and gave the stock an “outperform” rating in a report on Friday. CIBC raised their price target on Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a research report on Friday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Barrick Mining in a research report on Saturday, September 27th. Finally, Zacks Research lowered Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.10.

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.