Waratah Capital Advisors Ltd. Takes $1.64 Million Position in Barrick Mining Corporation $B

Waratah Capital Advisors Ltd. acquired a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 50,000 shares of the gold and copper producer’s stock, valued at approximately $1,638,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Compound Planning Inc. increased its position in Barrick Mining by 133.6% in the 3rd quarter. Compound Planning Inc. now owns 45,443 shares of the gold and copper producer’s stock worth $1,489,000 after buying an additional 25,987 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Barrick Mining by 29.6% in the third quarter. EverSource Wealth Advisors LLC now owns 3,308 shares of the gold and copper producer’s stock worth $108,000 after acquiring an additional 755 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its position in Barrick Mining by 19.8% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 2,260 shares of the gold and copper producer’s stock worth $74,000 after acquiring an additional 373 shares during the period. Vestmark Advisory Solutions Inc. increased its position in Barrick Mining by 293.1% during the third quarter. Vestmark Advisory Solutions Inc. now owns 48,383 shares of the gold and copper producer’s stock worth $1,586,000 after acquiring an additional 36,075 shares during the period. Finally, Bleakley Financial Group LLC raised its stake in Barrick Mining by 23.8% during the 3rd quarter. Bleakley Financial Group LLC now owns 37,748 shares of the gold and copper producer’s stock valued at $1,237,000 after purchasing an additional 7,268 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on B shares. TD Cowen restated a “buy” rating on shares of Barrick Mining in a research report on Wednesday, November 26th. Bank of America upgraded shares of Barrick Mining from a “neutral” rating to a “buy” rating and increased their target price for the company from $38.00 to $48.00 in a research note on Monday, November 24th. Citigroup lifted their target price on Barrick Mining from $38.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Cormark raised Barrick Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 11th. Finally, Scotiabank raised their price objective on Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.25.

Barrick Mining Price Performance

Barrick Mining stock opened at $49.70 on Wednesday. The business has a 50 day simple moving average of $47.37 and a 200 day simple moving average of $38.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 2.33. The company has a market capitalization of $83.27 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 0.40 and a beta of 0.40. Barrick Mining Corporation has a one year low of $17.00 and a one year high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.19. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The firm had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.15 billion. Barrick Mining’s quarterly revenue was up 44.6% compared to the same quarter last year. On average, sell-side analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.4%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, February 27th. Barrick Mining’s dividend payout ratio (DPR) is presently 23.89%.

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.