Picton Mahoney Asset Management Acquires 1,488,438 Shares of Barrick Mining Corporation $B

Picton Mahoney Asset Management boosted its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 1,673.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,577,359 shares of the gold and copper producer’s stock after purchasing an additional 1,488,438 shares during the period. Picton Mahoney Asset Management’s holdings in Barrick Mining were worth $51,797,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Arlington Trust Co LLC purchased a new position in shares of Barrick Mining in the third quarter worth about $26,000. Provenance Wealth Advisors LLC bought a new position in Barrick Mining during the 3rd quarter worth approximately $32,000. Wealth Preservation Advisors LLC bought a new position in Barrick Mining during the 2nd quarter worth approximately $33,000. Investors Research Corp purchased a new position in Barrick Mining in the 3rd quarter worth approximately $36,000. Finally, CENTRAL TRUST Co bought a new stake in Barrick Mining in the second quarter valued at approximately $37,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Raymond James Financial increased their price objective on Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, November 25th. JPMorgan Chase & Co. initiated coverage on shares of Barrick Mining in a report on Thursday, January 29th. They issued an “overweight” rating and a $68.00 price target on the stock. Canaccord Genuity Group decreased their price objective on shares of Barrick Mining to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Scotiabank upped their price objective on shares of Barrick Mining from $43.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $71.00 target price on shares of Barrick Mining in a research note on Wednesday, February 4th. Two equities research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.25.

Barrick Mining Stock Down 8.4%

Shares of Barrick Mining stock opened at $46.28 on Wednesday. The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13. Barrick Mining Corporation has a 12-month low of $17.00 and a 12-month high of $54.69. The company has a market cap of $77.54 billion, a P/E ratio of 15.80, a PEG ratio of 1.58 and a beta of 0.41. The company’s fifty day simple moving average is $47.85 and its two-hundred day simple moving average is $39.02.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, topping 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 firm had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $5.15 billion. The firm’s quarterly revenue was up 44.6% on a year-over-year basis. Research analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders 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 yield of 3.6%. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s 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.