Barrick Mining Corporation $B Stock: Pinnacle Associates Ltd. Raises Position

Pinnacle Associates Ltd. grew its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 42.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 56,418 shares of the gold and copper producer’s stock after purchasing an additional 16,768 shares during the period. Pinnacle Associates Ltd.’s holdings in Barrick Mining were worth $2,295,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of B. Uncommon Cents Investing Inc raised its stake in Barrick Mining by 7.1% during the 3rd quarter. Uncommon Cents Investing Inc now owns 122,315 shares of the gold and copper producer’s stock worth $4,975,000 after acquiring an additional 8,150 shares in the last quarter. Diversify Advisory Services LLC boosted its stake in Barrick Mining by 61.5% in the third quarter. Diversify Advisory Services LLC now owns 90,724 shares of the gold and copper producer’s stock valued at $3,679,000 after acquiring an additional 34,547 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in Barrick Mining by 4.4% in the third quarter. TD Waterhouse Canada Inc. now owns 7,400,867 shares of the gold and copper producer’s stock valued at $296,300,000 after acquiring an additional 313,297 shares in the last quarter. Banque Pictet & Cie SA boosted its stake in Barrick Mining by 26.9% in the third quarter. Banque Pictet & Cie SA now owns 111,000 shares of the gold and copper producer’s stock valued at $4,514,000 after acquiring an additional 23,500 shares in the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in Barrick Mining in the third quarter valued at $212,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on B shares. Weiss Ratings raised Barrick Mining from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Bank of America reduced their target price on Barrick Mining from $56.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Freedom Broker reissued a “hold” rating and issued a $46.00 target price (down from $54.00) on shares of Barrick Mining in a report on Thursday. RBC Dominion Securities set a $53.00 target price on Barrick Mining and gave the company an “outperform” rating in a research report on Thursday. Finally, Royal Bank Of Canada raised their price target on Barrick Mining from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.59.

Barrick Mining Price Performance

Barrick Mining stock opened at $38.11 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.36. The business has a 50 day simple moving average of $42.74 and a 200-day simple moving average of $40.89. Barrick Mining Corporation has a 12 month low of $30.98 and a 12 month high of $54.69. The stock has a market capitalization of $62.31 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.20 and a beta of 0.48.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period last year, the firm posted $0.47 EPS. Barrick Mining’s quarterly revenue was up 43.8% on a year-over-year basis. Equities analysts predict that Barrick Mining Corporation will post 3.50 earnings per share for the current year.

Barrick Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a dividend of $0.1750 per share. The ex-dividend date was Monday, August 31st. This represents a $0.70 dividend on an annualized basis and a yield of 1.8%. Barrick Mining’s dividend payout ratio is presently 18.04%.

Key Barrick Mining News

Here are the key news stories impacting Barrick Mining this week:

• Positive Sentiment: JPMorgan raised its price target to $55 from $52 and maintained a constructive view of Barrick, implying substantial upside from recent trading levels. JPMorgan raises target for Barrick Mining stock
• Positive Sentiment: RBC Dominion Securities assigned an “outperform” rating and a $53 target, reinforcing the case that Barrick’s valuation does not fully reflect its potential. RBC Dominion Securities rating
• Positive Sentiment: Investors are also watching mine development, production expansion, dividends and share buybacks as possible catalysts for a future revaluation. Barrick Mining catalysts for value revaluation
• Neutral Sentiment: Coverage is assessing whether Barrick’s mine-development pipeline will change its production mix. The impact depends on project execution, timing, capital spending and the profitability of future gold and copper output. Barrick Mining mine development and production mix
• Negative Sentiment: Freedom Broker downgraded Barrick to “hold” and cut its price target to $46 from $54, citing reduced near-term EBITDA expectations, operational risks and valuation concerns. The action contributed to a broader selloff in major gold producers. Freedom Broker downgrades Barrick Mining
• Negative Sentiment: A surge in diesel prices is raising concern about higher mining costs and squeezed margins across the industry, particularly because fuel is a significant variable expense for producers. Diesel price surge putting mining profits to test

Barrick Mining Company Profile

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the exploration, development and production of gold and copper. Its activities include operating mines, advancing development projects and managing mineral reserves across multiple jurisdictions.

The company’s gold operations include Nevada Gold Mines in the United States, a joint venture in which Barrick is the operator, as well as mines and projects in Canada, the Dominican Republic, Mali, Côte d’Ivoire, Tanzania and the Democratic Republic of the Congo.