Patriot Financial Group Insurance Agency LLC Acquires 47,859 Shares of Barrick Mining Corporation $B

Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 88.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,268 shares of the gold and copper producer’s stock after buying an additional 47,859 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Barrick Mining were worth $4,172,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Financial Consulate Inc. lifted its stake in shares of Barrick Mining by 1,042.0% in the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after acquiring an additional 521 shares during the last quarter. Westside Investment Management Inc. bought a new position in Barrick Mining during the 4th quarter worth approximately $25,000. Intesa Sanpaolo Wealth Management purchased a new position in Barrick Mining in the 4th quarter worth approximately $26,000. JPL Wealth Management LLC purchased a new position in Barrick Mining in the 3rd quarter worth approximately $28,000. Finally, Laurel Wealth Advisors LLC purchased a new position in Barrick Mining in the 4th quarter worth approximately $30,000. 90.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on B. Canadian Imperial Bank of Commerce dropped their price objective on Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research note on Tuesday, April 21st. Barclays started coverage on shares of Barrick Mining in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 target price on the stock. Weiss Ratings lowered shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. ATB Cormark Capital Markets cut shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, UBS Group raised their price target on shares of Barrick Mining from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.46.

Barrick Mining Price Performance

Shares of B stock opened at $37.31 on Monday. The firm has a market cap of $62.06 billion, a P/E ratio of 10.31, a P/E/G ratio of 1.06 and a beta of 0.43. Barrick Mining Corporation has a fifty-two week low of $20.35 and a fifty-two week high of $54.69. The business’s 50 day moving average price is $40.93 and its 200-day moving average price is $43.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating 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 company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.75 billion. The company’s quarterly revenue was up 66.7% on a year-over-year basis. On average, equities research analysts anticipate that Barrick Mining Corporation will post 3.78 earnings per share for the current year.

Barrick Mining Cuts Dividend

The business also recently disclosed 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 of this dividend was Friday, May 29th. Barrick Mining’s payout ratio is presently 19.34%.

Barrick Mining 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.