Legacy Capital Group California Inc. Purchases New Stake in Barrick Mining Corporation $B

Legacy Capital Group California Inc. acquired a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 15,621 shares of the gold and copper producer’s stock, valued at approximately $637,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Bogart Wealth LLC lifted its position in shares of Barrick Mining by 3.5% in the 4th quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer’s stock worth $281,000 after buying an additional 218 shares during the last quarter. Parvin Asset Management LLC boosted its holdings in shares of Barrick Mining by 0.7% in the 4th quarter. Parvin Asset Management LLC now owns 33,385 shares of the gold and copper producer’s stock valued at $1,454,000 after buying an additional 225 shares during the period. Silver Oak Securities Incorporated grew its position in shares of Barrick Mining by 2.9% during the 1st quarter. Silver Oak Securities Incorporated now owns 8,810 shares of the gold and copper producer’s stock valued at $359,000 after buying an additional 246 shares during the last quarter. Mmbg Investment Advisors CO. grew its position in shares of Barrick Mining by 0.6% during the 4th quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer’s stock valued at $1,892,000 after buying an additional 254 shares during the last quarter. Finally, S.A. Mason LLC raised its stake in Barrick Mining by 1.3% during the fourth quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer’s stock worth $1,007,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 90.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on B. Bank of America cut their target price on shares of Barrick Mining from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Weiss Ratings lowered Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Barclays began coverage on Barrick Mining in a research report on Thursday, May 21st. They set an “equal weight” rating and a $41.00 price target on the stock. ATB Cormark Capital Markets downgraded Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Scotiabank reduced their price objective on Barrick Mining from $63.00 to $57.00 and set a “sector outperform” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Barrick Mining Stock Performance

B opened at $36.48 on Wednesday. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $40.05 and its 200-day moving average is $43.21. The stock has a market cap of $60.69 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 0.78 and a beta of 0.48. Barrick Mining Corporation has a twelve month low of $20.52 and a twelve month high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining’s revenue for the quarter was up 66.7% compared to the same quarter last year. On average, analysts predict that Barrick Mining Corporation will post 3.63 earnings per share for the current year.

Barrick Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, May 29th. Barrick Mining’s payout ratio is 19.34%.

About Barrick Mining

Barrick Gold Corporation, commonly known as Barrick, is a Toronto?headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large?scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.

The company’s activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.