K2 Principal Fund L.P. Raises Position in Barrick Mining Corporation $B

K2 Principal Fund L.P. lifted its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 26.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 101,145 shares of the gold and copper producer’s stock after acquiring an additional 21,300 shares during the quarter. K2 Principal Fund L.P.’s holdings in Barrick Mining were worth $4,405,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quadrature Capital Ltd boosted its position in shares of Barrick Mining by 113.2% in the third quarter. Quadrature Capital Ltd now owns 3,984,800 shares of the gold and copper producer’s stock worth $130,764,000 after buying an additional 2,115,800 shares during the period. BlueCrest Capital Management Ltd purchased a new stake in shares of Barrick Mining in the third quarter worth about $1,889,000. WINTON GROUP Ltd purchased a new stake in shares of Barrick Mining in the third quarter worth about $12,739,000. Picton Mahoney Asset Management boosted its position in shares of Barrick Mining by 1,673.9% in the third quarter. Picton Mahoney Asset Management now owns 1,577,359 shares of the gold and copper producer’s stock worth $51,797,000 after buying an additional 1,488,438 shares during the period. Finally, Schroder Investment Management Group purchased a new stake in shares of Barrick Mining in the third quarter worth about $111,426,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Trading Up 2.9%

NYSE:B opened at $40.22 on Friday. The company has a quick ratio of 2.44, a current ratio of 3.06 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $41.51 and its two-hundred day moving average is $43.85. Barrick Mining Corporation has a 52 week low of $20.35 and a 52 week high of $54.69. The company has a market cap of $66.89 billion, a PE ratio of 11.11, a P/E/G ratio of 1.14 and a beta of 0.44.

Barrick Mining (NYSE:B) (TSE:ABX) last released its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.75 billion. The company’s quarterly revenue was up 66.7% on a year-over-year basis. On average, analysts predict that Barrick Mining Corporation will post 3.78 EPS for the current year.

Barrick Mining Cuts Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on B. Barclays initiated coverage on Barrick Mining in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 target price for the company. Canadian Imperial Bank of Commerce reduced their price target on Barrick Mining to $63.00 and set an “outperformer” rating for the company in a report on Tuesday, April 21st. Canaccord Genuity Group reduced their price target on Barrick Mining to $77.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Weiss Ratings downgraded Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, UBS Group increased their price target on Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. One equities 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. Based on data from MarketBeat, Barrick Mining has an average rating of “Moderate Buy” and a consensus target price of $53.46.

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.