Legacy Capital Wealth Partners LLC Invests $424,000 in Barrick Mining Corporation $B

Legacy Capital Wealth Partners LLC bought a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,374 shares of the gold and copper producer’s stock, valued at approximately $424,000.

A number of other institutional investors have also recently added to or reduced their stakes in B. Vermillion Wealth Management Inc. acquired a new stake in Barrick Mining during the second quarter worth about $25,000. Crowley Wealth Management Inc. purchased a new stake in shares of Barrick Mining during the 2nd quarter worth about $26,000. Concord Wealth Partners purchased a new stake in shares of Barrick Mining during the 2nd quarter worth about $26,000. Ameriflex Group Inc. acquired a new stake in Barrick Mining during the 2nd quarter worth approximately $27,000. Finally, Trifecta Capital Advisors LLC purchased a new position in Barrick Mining in the second quarter valued at approximately $27,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on B shares. UBS Group boosted their price objective on shares of Barrick Mining from $35.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. TD Securities upped their price target on shares of Barrick Mining from $38.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Scotiabank upgraded Barrick Mining from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $27.50 to $43.00 in a report on Thursday, October 23rd. Sanford C. Bernstein reissued an “outperform” rating on shares of Barrick Mining in a research report on Wednesday, September 24th. Finally, National Bankshares raised Barrick Mining to an “outperform” rating in a research report on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Barrick Mining presently has a consensus rating of “Buy” and an average price target of $44.78.

Barrick Mining Stock Performance

Barrick Mining stock opened at $41.90 on Friday. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $41.72. 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 company has a market capitalization of $70.71 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 0.40 and a beta of 0.28. The firm’s fifty day moving average price is $34.66 and its 200 day moving average price is $26.87.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The company had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same period last year, the firm earned $0.09 earnings per share. The company’s revenue was up 23.2% on a year-over-year basis. On average, research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a dividend of $0.175 per share. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, November 28th. This represents a $0.70 dividend on an annualized basis and a yield of 1.7%. Barrick Mining’s payout ratio is 33.82%.

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.