Waratah Capital Advisors Ltd. Purchases New Shares in Barrick Mining Corporation $B

Waratah Capital Advisors Ltd. acquired a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 50,000 shares of the gold and copper producer’s stock, valued at approximately $1,638,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. acquired a new position in Barrick Mining during the 2nd quarter worth about $1,459,633,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Barrick Mining during the second quarter valued at approximately $1,091,122,000. First Eagle Investment Management LLC bought a new stake in shares of Barrick Mining during the second quarter valued at approximately $822,056,000. Geode Capital Management LLC acquired a new stake in shares of Barrick Mining in the second quarter valued at approximately $307,855,000. Finally, CIBC Asset Management Inc raised its position in 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 worth $601,115,000 after purchasing an additional 13,891,886 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barrick Mining Price Performance

Shares of B opened at $49.70 on Wednesday. The stock has a market cap of $83.27 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 0.40 and a beta of 0.40. Barrick Mining Corporation has a 1 year low of $17.00 and a 1 year high of $54.69. The stock’s 50-day moving average price is $47.37 and its two-hundred day moving average price is $38.10. 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 (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.19. The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.15 billion. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The business’s revenue was up 44.6% compared to the same quarter last year. On average, equities analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a $0.42 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.4%. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s dividend payout ratio is currently 23.89%.

Wall Street Analysts Forecast Growth

B has been the topic of a number of recent research reports. ATB Cormark Capital Markets upgraded Barrick Mining to a “moderate buy” rating in a research report on Monday, February 9th. Zacks Research cut Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. Jefferies Financial Group reissued a “buy” rating and set a $55.00 price objective on shares of Barrick Mining in a report on Sunday, December 7th. 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. Finally, DZ Bank raised shares of Barrick Mining to a “strong-buy” rating in a research note on Monday, January 19th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Barrick Mining currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.25.

Barrick Mining 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.