Hudson Bay Capital Management LP Invests $783,000 in Barrick Mining Corporation $B

Hudson Bay Capital Management LP bought a new position in Barrick Mining Corporation (NYSE:BFree Report) (TSE:ABX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 23,899 shares of the gold and copper producer’s stock, valued at approximately $783,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arlington Trust Co LLC bought a new stake in Barrick Mining in the 3rd quarter worth $26,000. JPL Wealth Management LLC bought a new position in shares of Barrick Mining during the third quarter valued at about $28,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Barrick Mining during the third quarter worth about $31,000. Provenance Wealth Advisors LLC bought a new stake in shares of Barrick Mining in the third quarter worth about $32,000. Finally, Wealth Preservation Advisors LLC bought a new stake in shares of Barrick Mining in the second quarter worth about $33,000. 90.82% of the stock is currently owned by institutional investors.

Key Barrick Mining News

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

Barrick Mining Stock Down 3.1%

B stock opened at $37.09 on Monday. The business has a 50 day moving average of $47.27 and a 200 day moving average of $40.60. The firm has a market cap of $62.14 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 1.23 and a beta of 0.41. Barrick Mining Corporation has a twelve month low of $17.00 and a twelve month high of $54.69. The company has a quick ratio of 2.33, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:BGet Free Report) (TSE:ABX) last released its earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.19. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The firm had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.15 billion. Barrick Mining’s quarterly revenue was up 44.6% on a year-over-year basis. On average, research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were given a dividend of $0.42 per share. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.68 annualized dividend and a yield of 4.5%. Barrick Mining’s payout ratio is currently 57.34%.

Analyst Upgrades and Downgrades

A number of research firms have commented on B. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $71.00 price target on shares of Barrick Mining in a research report on Wednesday, February 4th. BNP Paribas Exane upgraded Barrick Mining to a “neutral” rating and set a $50.00 price objective on the stock in a research report on Friday, December 5th. JPMorgan Chase & Co. assumed coverage on Barrick Mining in a research note on Thursday, January 29th. They set an “overweight” rating and a $68.00 target price on the stock. TD Cowen reaffirmed a “buy” rating on shares of Barrick Mining in a research note on Wednesday, November 26th. Finally, Bank of America upgraded shares of Barrick Mining from a “neutral” rating to a “buy” rating and lifted their price target for the company from $38.00 to $48.00 in a report on Monday, November 24th. One analyst has 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.25.

Get Our Latest Report on Barrick Mining

Barrick Mining Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Barrick Mining (NYSE:B)

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