Empyrean Capital Partners LP Acquires Shares of 821,000 Barrick Mining Corporation $B

Empyrean Capital Partners LP acquired a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 821,000 shares of the gold and copper producer’s stock, valued at approximately $35,755,000. Barrick Mining comprises approximately 1.2% of Empyrean Capital Partners LP’s holdings, making the stock its 26th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Westside Investment Management Inc. purchased a new position in Barrick Mining in the 4th quarter valued at about $25,000. Financial Consulate Inc. boosted its position in Barrick Mining by 1,042.0% in the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after buying an additional 521 shares during the last quarter. Intesa Sanpaolo Wealth Management purchased a new position in Barrick Mining in the 4th quarter valued at about $26,000. Laurel Wealth Advisors LLC purchased a new position in Barrick Mining in the 4th quarter valued at about $30,000. Finally, Motiv8 Investments LLC purchased a new position in Barrick Mining in the 4th quarter valued at about $31,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Stock Performance

Shares of B stock opened at $41.30 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06. Barrick Mining Corporation has a one year low of $20.35 and a one year high of $54.69. The company’s 50-day simple moving average is $41.55 and its 200-day simple moving average is $43.91. The stock has a market capitalization of $68.70 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 1.22 and a beta of 0.44.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping the consensus estimate of $0.80 by $0.18. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.75 billion. The business’s revenue was up 66.7% compared to the same quarter last year. Equities analysts anticipate that Barrick Mining Corporation will post 3.78 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a $0.175 dividend. The ex-dividend date of this dividend was 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 currently 19.34%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays assumed coverage on shares of Barrick Mining in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price objective for the company. Canadian Imperial Bank of Commerce decreased their price objective on shares of Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research report on Tuesday, April 21st. Canaccord Genuity Group reduced their price target on shares of Barrick Mining to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. ATB Cormark Capital Markets cut shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Weiss Ratings cut shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.