Frisch Financial Group Inc. Invests $428,000 in Barrick Mining Corporation $B

Frisch Financial Group Inc. acquired a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 20,562 shares of the gold and copper producer’s stock, valued at approximately $428,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. acquired a new stake in shares of Barrick Mining during the second quarter worth $1,459,633,000. Measured Wealth Private Client Group LLC acquired a new position in Barrick Mining in the 2nd quarter worth $696,000. Philadelphia Trust Co. bought a new position in Barrick Mining during the 2nd quarter worth about $1,412,000. Cadence Wealth Management LLC acquired a new stake in shares of Barrick Mining in the 2nd quarter valued at about $1,112,000. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of Barrick Mining in the second quarter valued at about $30,641,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barrick Mining Price Performance

NYSE:B opened at $41.73 on Thursday. The stock has a market capitalization of $70.25 billion, a PE ratio of 20.16, a P/E/G ratio of 0.42 and a beta of 0.40. Barrick Mining Corporation has a 1-year low of $15.11 and a 1-year high of $43.08. The firm has a fifty day simple moving average of $35.79 and a 200 day simple moving average of $28.14. The company has a current ratio of 2.94, a quick ratio of 2.33 and a debt-to-equity ratio of 0.14.

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

Barrick Mining Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a dividend of $0.175 per share. The ex-dividend date is Friday, November 28th. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a yield of 1.7%. Barrick Mining’s dividend payout ratio is 33.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Scotiabank raised Barrick Mining from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $27.50 to $43.00 in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a report on Monday. National Bankshares upgraded shares of Barrick Mining to an “outperform” rating in a report on Monday, September 22nd. Raymond James Financial raised their target price on shares of Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, November 25th. Finally, Canaccord Genuity Group boosted their price target 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. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.17.

Barrick Mining Profile

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.