BlueCrest Capital Management Ltd Makes New Investment in Barrick Mining Corporation $B

BlueCrest Capital Management Ltd bought a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 57,645 shares of the gold and copper producer’s stock, valued at approximately $1,889,000.

A number of other institutional investors have also modified their holdings of the stock. Cary Street Partners Investment Advisory LLC lifted its position in shares of Barrick Mining by 19.8% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 2,260 shares of the gold and copper producer’s stock worth $74,000 after purchasing an additional 373 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in Barrick Mining by 4.7% in the third quarter. Brown Brothers Harriman & Co. now owns 8,770 shares of the gold and copper producer’s stock valued at $287,000 after buying an additional 391 shares during the last quarter. Legend Financial Advisors Inc. raised its stake in Barrick Mining by 0.9% during the third quarter. Legend Financial Advisors Inc. now owns 45,139 shares of the gold and copper producer’s stock valued at $1,479,000 after buying an additional 399 shares in the last quarter. Banque Transatlantique SA raised its stake in Barrick Mining by 4.2% during the third quarter. Banque Transatlantique SA now owns 9,950 shares of the gold and copper producer’s stock valued at $326,000 after buying an additional 400 shares in the last quarter. Finally, Ascent Group LLC lifted its holdings in Barrick Mining by 2.9% during the 3rd quarter. Ascent Group LLC now owns 14,514 shares of the gold and copper producer’s stock worth $476,000 after buying an additional 404 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Stock Down 4.9%

Barrick Mining stock opened at $42.31 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.33 and a current ratio of 2.92. Barrick Mining Corporation has a one year low of $17.00 and a one year high of $54.69. The company has a 50-day simple moving average of $47.96 and a 200-day simple moving average of $40.03. The firm has a market capitalization of $70.88 billion, a P/E ratio of 14.44, a P/E/G 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $5.15 billion. The firm’s revenue was up 44.6% compared to the same quarter last year. As a group, equities analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The firm also recently disclosed 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 is a boost from Barrick Mining’s previous quarterly dividend of $0.18. This represents a $1.68 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, February 27th. Barrick Mining’s payout ratio is presently 57.34%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on B shares. Bank of America upgraded Barrick Mining from a “neutral” rating to a “buy” rating and boosted their price target for the company from $38.00 to $48.00 in a report on Monday, November 24th. TD Cowen restated a “buy” rating on shares of Barrick Mining in a research note on Wednesday, November 26th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Barrick Mining in a report on Sunday, December 7th. Wall Street Zen upgraded shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $71.00 target price on shares of Barrick Mining in a report on Wednesday, February 4th. Two equities research 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. Based on data from MarketBeat, Barrick Mining presently has a consensus rating of “Moderate Buy” and an average price target of $55.25.

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.