Legacy Capital Group California Inc. Buys Shares of 15,621 Barrick Mining Corporation $B

Legacy Capital Group California Inc. purchased a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the first quarter, Holdings Channel.com reports. The fund purchased 15,621 shares of the gold and copper producer’s stock, valued at approximately $637,000.

A number of other institutional investors also recently made changes to their positions in B. Financial Consulate Inc. boosted its holdings in shares of Barrick Mining by 1,042.0% in the fourth 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 in the last quarter. Westside Investment Management Inc. bought a new stake in Barrick Mining during the fourth quarter worth approximately $25,000. Intesa Sanpaolo Wealth Management bought a new stake in Barrick Mining during the fourth quarter worth approximately $26,000. Ascentis Independent Advisors acquired a new stake in Barrick Mining in the first quarter worth approximately $28,000. Finally, JPL Wealth Management LLC acquired a new stake in Barrick Mining in the third quarter worth approximately $28,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Barrick Mining Trading Up 1.5%

Shares of NYSE:B opened at $36.48 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06. The stock has a market capitalization of $60.69 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 0.78 and a beta of 0.48. Barrick Mining Corporation has a 1-year low of $20.52 and a 1-year high of $54.69. The company has a 50 day moving average price of $40.05 and a 200 day moving average price of $43.21.

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

Barrick Mining Cuts Dividend

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

Analyst Upgrades and Downgrades

B has been the subject of a number of research reports. Scotiabank decreased their price target on Barrick Mining from $63.00 to $57.00 and set a “sector outperform” rating for the company in a research note on Tuesday. ATB Cormark Capital Markets downgraded Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. 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 note on Thursday, May 21st. They set an “equal weight” rating and a $41.00 target price for the company. Finally, Bank of America lowered their target price on Barrick Mining from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.00.

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.