Cinctive Capital Management LP Takes $8.02 Million Position in Barrick Mining Corporation $B

Cinctive Capital Management LP purchased a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 244,859 shares of the gold and copper producer’s stock, valued at approximately $8,024,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. acquired a new stake in Barrick Mining in the second quarter valued at about $1,459,633,000. Arrowstreet Capital Limited Partnership acquired a new position in Barrick Mining during the second quarter worth about $1,091,122,000. Capital International Investors lifted its holdings in shares of Barrick Mining by 35.9% in the third quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock worth $3,340,709,000 after acquiring an additional 26,921,219 shares during the last quarter. Geode Capital Management LLC bought a new position in shares of Barrick Mining in the second quarter worth about $307,855,000. Finally, CIBC Asset Management Inc boosted its stake in shares of Barrick Mining by 316.0% in the 3rd quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer’s stock valued at $601,115,000 after purchasing an additional 13,891,886 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Price Performance

Shares of NYSE:B opened at $42.31 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.33 and a current ratio of 2.92. Barrick Mining Corporation has a 52 week low of $17.00 and a 52 week high of $54.69. The firm has a market cap of $70.88 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.32 and a beta of 0.41. The firm’s fifty day moving average is $47.96 and its 200-day moving average is $40.03.

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

Barrick Mining Increases Dividend

The business 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 is a boost from Barrick Mining’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.0%. Barrick Mining’s dividend payout ratio is presently 57.34%.

Wall Street Analyst Weigh In

B has been the topic of several research reports. Zacks Research lowered shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. TD Cowen reissued a “buy” rating on shares of Barrick Mining in a research note on Wednesday, November 26th. Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $71.00 target price on shares of Barrick Mining in a research report on Wednesday, February 4th. Raymond James Financial boosted their target price on shares of Barrick Mining from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. Finally, UBS Group set a $55.00 price target on shares of Barrick Mining in a report on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Barrick Mining presently has an average rating of “Moderate Buy” and a consensus target price of $55.25.

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.