Public Sector Pension Investment Board Increases Position in Barrick Mining Corporation $B

Public Sector Pension Investment Board increased its position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 76.4% during the third quarter, Holdings Channel reports. The fund owned 294,175 shares of the gold and copper producer’s stock after acquiring an additional 127,400 shares during the quarter. Public Sector Pension Investment Board’s holdings in Barrick Mining were worth $9,664,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wedbush Securities Inc. lifted its stake in shares of Barrick Mining by 7.6% during the 3rd quarter. Wedbush Securities Inc. now owns 13,826 shares of the gold and copper producer’s stock worth $453,000 after purchasing an additional 982 shares during the period. Savvy Advisors Inc. lifted its position in Barrick Mining by 22.2% during the third quarter. Savvy Advisors Inc. now owns 28,444 shares of the gold and copper producer’s stock worth $932,000 after buying an additional 5,161 shares during the period. Skylands Capital LLC acquired a new stake in Barrick Mining in the 3rd quarter worth about $10,132,000. GK Wealth Management LLC acquired a new stake in Barrick Mining in the 3rd quarter worth about $656,000. Finally, Caprock Group LLC purchased a new stake in Barrick Mining in the 3rd quarter valued at about $3,902,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on B. DZ Bank upgraded shares of Barrick Mining to a “strong-buy” rating in a report on Monday, January 19th. ATB Cormark Capital Markets upgraded shares of Barrick Mining to a “moderate buy” rating in a report on Monday, February 9th. Citigroup boosted their price objective on shares of 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 reaffirmed an “outperform” rating and issued a $71.00 target price on shares of Barrick Mining in a research report on Wednesday, February 4th. Finally, UBS Group set a $55.00 price target on Barrick Mining in a research report on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.58.

Barrick Mining Price Performance

Barrick Mining stock opened at $47.99 on Tuesday. The firm has a fifty day moving average of $46.66 and a 200-day moving average of $37.01. Barrick Mining Corporation has a 52-week low of $17.00 and a 52-week 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. The firm has a market capitalization of $80.40 billion, a P/E ratio of 16.38, a PEG ratio of 0.39 and a beta of 0.40.

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 for the quarter, beating the consensus estimate of $0.85 by $0.19. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.15 billion. The business’s revenue was up 44.6% compared to the same quarter last year. As a group, analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be paid 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 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, February 27th. Barrick Mining’s payout ratio is presently 23.89%.

Barrick Mining 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.