NewEdge Advisors LLC Buys 96,636 Shares of Barrick Mining Corporation $B

NewEdge Advisors LLC grew its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 231.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,414 shares of the gold and copper producer’s stock after buying an additional 96,636 shares during the period. NewEdge Advisors LLC’s holdings in Barrick Mining were worth $5,084,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Ascentis Independent Advisors bought a new stake in Barrick Mining during the first quarter worth about $28,000. Motiv8 Investments LLC bought a new position in shares of Barrick Mining during the 4th quarter valued at about $31,000. Key Financial Inc raised its holdings in shares of Barrick Mining by 137.5% during the 1st quarter. Key Financial Inc now owns 753 shares of the gold and copper producer’s stock valued at $31,000 after buying an additional 436 shares in the last quarter. Nomura Asset Management Co. Ltd. purchased a new position in shares of Barrick Mining during the 4th quarter valued at about $35,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Barrick Mining in the 4th quarter worth approximately $37,000. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Down 3.0%

Shares of NYSE:B opened at $42.35 on Tuesday. The stock’s 50-day moving average is $40.90 and its 200 day moving average is $41.29. The company has a market cap of $69.71 billion, a PE ratio of 10.92, a P/E/G ratio of 1.28 and a beta of 0.51. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.36. Barrick Mining Corporation has a 1 year low of $28.38 and a 1 year high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.01. The business had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%.The business’s revenue was up 43.8% on a year-over-year basis. During the same quarter last year, the business posted $0.47 EPS. Sell-side analysts anticipate that Barrick Mining Corporation will post 3.48 EPS for the current year.

Barrick Mining Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.175 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.70 dividend on an annualized basis and a yield of 1.7%. Barrick Mining’s dividend payout ratio (DPR) is presently 18.04%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on B shares. Bank of America cut their price objective on shares of Barrick Mining from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Wall Street Zen cut shares of Barrick Mining from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Barrick Mining in a research note on Friday, August 7th. Citigroup upped their price target on shares of Barrick Mining from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. Finally, Sanford C. Bernstein reduced their price objective on Barrick Mining from $61.00 to $56.50 and set an “outperform” rating on the stock in a research note on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Barrick Mining has an average rating of “Moderate Buy” and an average price target of $52.63.

Barrick Mining Company Profile

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the production of gold and copper. Its activities include the exploration, development, construction and operation of mines, as well as processing ore into refined metal products.

The company operates and holds interests in mining assets across several regions, including North America, South America, Africa, the Middle East and Papua New Guinea. Its portfolio includes gold operations such as Nevada Gold Mines in the United States, Pueblo Viejo in the Dominican Republic, Veladero in Argentina, Kibali in the Democratic Republic of the Congo, and North Mara and Bulyanhulu in Tanzania.