P Schoenfeld Asset Management LP Acquires Shares of 100,000 Barrick Mining Corporation $B

P Schoenfeld Asset Management LP bought a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 100,000 shares of the gold and copper producer’s stock, valued at approximately $4,355,000. Barrick Mining makes up 1.5% of P Schoenfeld Asset Management LP’s investment portfolio, making the stock its 17th largest position.

Other hedge funds have also modified their holdings of the company. Capital International Investors raised its position in Barrick Mining by 35.9% in the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock worth $3,340,709,000 after purchasing an additional 26,921,219 shares during the last quarter. Van ECK Associates Corp boosted its position in Barrick Mining by 22.8% in the 4th quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock valued at $2,413,699,000 after buying an additional 10,287,544 shares during the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Barrick Mining in the 2nd quarter valued at $211,263,000. Canada Pension Plan Investment Board acquired a new stake in shares of Barrick Mining in the 2nd quarter valued at $172,230,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Barrick Mining by 664.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,013,464 shares of the gold and copper producer’s stock worth $295,977,000 after acquiring an additional 7,833,887 shares during the last quarter. 90.82% of the stock is owned by institutional investors.

Barrick Mining Trading Up 0.0%

NYSE:B opened at $40.22 on Monday. Barrick Mining Corporation has a 1-year low of $20.35 and a 1-year high of $54.69. The business’s 50-day moving average price is $41.51 and its two-hundred day moving average price is $43.88. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $66.89 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 1.14 and a beta of 0.43.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.18. The firm 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 company’s revenue for the quarter was up 66.7% on a year-over-year basis. On average, equities analysts expect that Barrick Mining Corporation will post 3.78 earnings per share for the current year.

Barrick Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a dividend of $0.175 per share. The ex-dividend date is Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a yield of 1.7%. Barrick Mining’s payout ratio is currently 19.34%.

Analyst Ratings Changes

Several equities analysts recently issued reports on B shares. Canadian Imperial Bank of Commerce decreased their price target on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a report on Tuesday, April 21st. Canaccord Genuity Group dropped their price objective on Barrick Mining to $77.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Weiss Ratings downgraded shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Barclays assumed coverage on shares of Barrick Mining in a research report on Thursday, May 21st. They set an “equal weight” rating and a $41.00 price target for the company. Finally, UBS Group boosted their price target on shares of Barrick Mining from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Barrick Mining currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.46.

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.