Cannell & Spears LLC Raises Holdings in Barrick Mining Corporation $B

Cannell & Spears LLC boosted its position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 776.5% in the 3rd quarter, Holdings Channel reports. The firm owned 1,856,103 shares of the gold and copper producer’s stock after acquiring an additional 1,644,345 shares during the quarter. Barrick Mining accounts for about 1.1% of Cannell & Spears LLC’s portfolio, making the stock its 21st largest position. Cannell & Spears LLC’s holdings in Barrick Mining were worth $60,824,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors boosted its stake in Barrick Mining by 35.9% during 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. Vanguard Group Inc. raised its position in shares of Barrick Mining by 1.1% in the third quarter. Vanguard Group Inc. now owns 70,878,168 shares of the gold and copper producer’s stock valued at $2,327,991,000 after buying an additional 767,544 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Barrick Mining in the second quarter valued at about $1,091,122,000. TD Asset Management Inc lifted its stake in shares of Barrick Mining by 3.8% in the third quarter. TD Asset Management Inc now owns 19,309,335 shares of the gold and copper producer’s stock worth $634,346,000 after buying an additional 715,151 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in Barrick Mining by 316.0% during the third quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer’s stock worth $601,115,000 after acquiring an additional 13,891,886 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on B. Raymond James Financial upped their price objective on shares of Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, November 25th. Wall Street Zen raised shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. TD Cowen restated a “buy” rating on shares of Barrick Mining in a report on Wednesday, November 26th. UBS Group set a $55.00 price target on Barrick Mining in a research report on Friday, February 6th. Finally, Citigroup increased their price target on Barrick Mining from $38.00 to $48.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Two investment 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. According to MarketBeat.com, Barrick Mining currently has an average rating of “Moderate Buy” and a consensus target price of $55.25.

Barrick Mining Price Performance

Barrick Mining stock opened at $42.31 on Friday. The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $47.96 and a 200 day moving average price of $40.03. Barrick Mining Corporation has a 12-month low of $17.00 and a 12-month high of $54.69. The stock has a market cap of $70.88 billion, a P/E ratio of 14.44, a PEG ratio of 1.32 and a beta of 0.41.

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

Barrick Mining Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, February 27th. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s dividend payout ratio is presently 57.34%.

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.