34,224 Shares in Barrick Mining Corporation $B Acquired by Silverlake Wealth Management LLC

Silverlake Wealth Management LLC bought a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 34,224 shares of the gold and copper producer’s stock, valued at approximately $713,000.

Other hedge funds have also recently made changes to their positions in the company. Fiduciary Financial Group LLC bought a new position in Barrick Mining in the 2nd quarter valued at about $352,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Barrick Mining in the second quarter worth approximately $464,000. Fractal Investments LLC bought a new position in shares of Barrick Mining in the second quarter valued at approximately $341,000. Hedges Asset Management LLC purchased a new position in shares of Barrick Mining during the second quarter valued at approximately $1,249,000. Finally, Parallel Advisors LLC bought a new stake in Barrick Mining during the second quarter worth $76,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

B has been the topic of several recent analyst reports. Raymond James Financial raised their price objective on Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, November 25th. Canaccord Genuity Group upped their price objective on shares of Barrick Mining from $39.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Wall Street Zen lowered shares of Barrick Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Weiss Ratings restated a “buy (b)” rating on shares of Barrick Mining in a research note on Monday, December 8th. Finally, TD Securities upped their target price on Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.17.

Barrick Mining Trading Down 0.3%

NYSE:B opened at $43.02 on Friday. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $44.07. The company has a current ratio of 2.94, a quick ratio of 2.33 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average is $36.16 and its 200 day moving average is $28.47. The stock has a market capitalization of $72.44 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 0.44 and a beta of 0.40.

Barrick Mining (NYSE:B) (TSE:ABX) last released its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a return on equity of 9.48% and a net margin of 24.53%.The business 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 business posted $0.09 earnings per share. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. Sell-side analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current 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 issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 1.6%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, November 28th. Barrick Mining’s payout ratio is currently 33.82%.

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.