GeoSphere Capital Management LLC Takes $1.96 Million Position in Barrick Mining Corporation $B

GeoSphere Capital Management LLC acquired a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 45,000 shares of the gold and copper producer’s stock, valued at approximately $1,960,000. Barrick Mining accounts for about 0.6% of GeoSphere Capital Management LLC’s investment portfolio, making the stock its 26th biggest holding.

A number of other institutional investors have also recently made changes to their positions in the stock. Bogart Wealth LLC boosted its stake in shares of Barrick Mining by 3.5% during the fourth quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer’s stock valued at $281,000 after purchasing an additional 218 shares during the period. S.A. Mason LLC boosted its stake in shares of Barrick Mining by 1.3% during the fourth quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer’s stock valued at $1,007,000 after purchasing an additional 300 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Barrick Mining by 1.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 31,212 shares of the gold and copper producer’s stock valued at $1,359,000 after purchasing an additional 302 shares during the period. Legacy Financial Advisors Inc. boosted its stake in shares of Barrick Mining by 3.9% during the fourth quarter. Legacy Financial Advisors Inc. now owns 8,569 shares of the gold and copper producer’s stock valued at $373,000 after purchasing an additional 319 shares during the period. Finally, Linden Thomas Advisory Services LLC boosted its stake in shares of Barrick Mining by 4.2% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 8,300 shares of the gold and copper producer’s stock valued at $361,000 after purchasing an additional 332 shares during the period. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Performance

Shares of B stock opened at $40.64 on Monday. The stock has a fifty day moving average of $41.26 and a 200 day moving average of $43.34. Barrick Mining Corporation has a 52 week low of $18.58 and a 52 week high of $54.69. The firm has a market capitalization of $68.10 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.10 and a beta of 0.41. The company has a quick ratio of 2.44, a current ratio of 3.06 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly 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 during the quarter, compared to analyst estimates of $4.75 billion. The company’s revenue was up 66.7% compared to the same quarter last year. As a group, research analysts expect that Barrick Mining Corporation will post 3.7 earnings per share for the current year.

Barrick Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a $0.175 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a yield of 1.7%. Barrick Mining’s dividend payout ratio (DPR) is presently 46.41%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on B shares. Canaccord Genuity Group dropped their price objective on Barrick Mining to $77.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Barclays started coverage on Barrick Mining in a research note on Thursday. They set an “equal weight” rating and a $41.00 price objective for the company. Citigroup increased their price objective on Barrick Mining from $38.00 to $48.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Canadian Imperial Bank of Commerce dropped their price target on Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research note on Tuesday, April 21st. Finally, Wall Street Zen raised Barrick Mining from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.