Wallace Advisory Group LLC Makes New $379,000 Investment in Barrick Mining Corporation $B

Wallace Advisory Group LLC purchased a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,553 shares of the gold and copper producer’s stock, valued at approximately $379,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vermillion Wealth Management Inc. purchased a new position in shares of Barrick Mining during the second quarter valued at approximately $25,000. Crowley Wealth Management Inc. purchased a new position in Barrick Mining during the 2nd quarter worth $26,000. Concord Wealth Partners bought a new stake in shares of Barrick Mining in the 2nd quarter worth $26,000. Ameriflex Group Inc. purchased a new stake in shares of Barrick Mining in the second quarter valued at about $27,000. Finally, Trifecta Capital Advisors LLC bought a new position in shares of Barrick Mining during the second quarter valued at about $27,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Trading Down 0.4%

NYSE B opened at $45.44 on Friday. The stock’s 50-day simple moving average is $38.09 and its two-hundred day simple moving average is $29.96. Barrick Mining Corporation has a twelve month low of $15.31 and a twelve month high of $46.45. The company has a quick ratio of 2.33, a current ratio of 2.94 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $76.50 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 0.46 and a beta of 0.40.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The company had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $4.20 billion. During the same quarter last year, the company earned $0.09 EPS. The firm’s revenue was up 23.2% compared to the same quarter last year. Research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were issued a $0.175 dividend. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, November 28th. Barrick Mining’s dividend payout ratio (DPR) is 33.82%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. CIBC raised their price target on shares of Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. BNP Paribas raised Barrick Mining to a “neutral” rating and set a $50.00 target price for the company in a research report on Friday, December 5th. Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 price target on shares of Barrick Mining in a research report on Sunday, December 7th. Canaccord Genuity Group lifted their price objective on Barrick Mining from $39.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Finally, Wall Street Zen lowered shares of Barrick Mining from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $47.17.

Barrick Mining Company Profile

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.