Barrick Mining Corporation $B Stock: Pictet Asset Management Holding SA Grows Position

Pictet Asset Management Holding SA boosted its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 6.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 646,309 shares of the gold and copper producer’s stock after buying an additional 37,418 shares during the period. Pictet Asset Management Holding SA’s holdings in Barrick Mining were worth $26,344,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of Barrick Mining by 10.9% in the first quarter. Royal Bank of Canada now owns 39,598,520 shares of the gold and copper producer’s stock worth $1,615,225,000 after acquiring an additional 3,881,841 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Barrick Mining by 1.2% during the first quarter. The Manufacturers Life Insurance Company now owns 14,992,792 shares of the gold and copper producer’s stock worth $612,067,000 after purchasing an additional 175,342 shares during the last quarter. Ninety One UK Ltd increased its position in Barrick Mining by 13.1% during the third quarter. Ninety One UK Ltd now owns 14,143,606 shares of the gold and copper producer’s stock worth $575,220,000 after purchasing an additional 1,640,224 shares during the last quarter. TD Waterhouse Canada Inc. increased its position in Barrick Mining by 4.4% during the third quarter. TD Waterhouse Canada Inc. now owns 7,400,867 shares of the gold and copper producer’s stock worth $296,300,000 after purchasing an additional 313,297 shares during the last quarter. Finally, Swiss National Bank raised its stake in Barrick Mining by 25.9% during the first quarter. Swiss National Bank now owns 5,680,129 shares of the gold and copper producer’s stock worth $231,788,000 after purchasing an additional 1,167,000 shares during the period. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Down 1.6%

B opened at $39.06 on Thursday. The firm has a 50 day moving average price of $41.07 and a 200 day moving average price of $41.84. The company has a market cap of $63.62 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 1.22 and a beta of 0.52. Barrick Mining Corporation has a 1 year low of $34.03 and a 1 year high of $54.69. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.36 and a current ratio of 2.73.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings results on Monday, November 9th. The gold and copper producer reported $0.82 EPS for the quarter, beating the consensus estimate of $0.74 by $0.08. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $5.10 billion. Barrick Mining had a net margin of 30.32% and a return on equity of 16.65%. Barrick Mining’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.58 earnings per share. Sell-side analysts expect that Barrick Mining Corporation will post 3.54 earnings per share for the current year.

Barrick Mining Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be given a $0.1750 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.70 annualized dividend and a dividend yield of 1.8%. Barrick Mining’s dividend payout ratio is presently 18.04%.

Analyst Upgrades and Downgrades

B has been the subject of several research reports. Citigroup boosted their price objective on shares of Barrick Mining from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. Scotiabank dropped their price objective on Barrick Mining from $57.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, August 12th. Royal Bank Of Canada increased their target price on Barrick Mining from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. Freedom Broker cut Barrick Mining from a “buy” rating to a “hold” rating and reduced their target price for the company from $54.00 to $46.00 in a report on Thursday, October 22nd. Finally, Canadian Imperial Bank of Commerce cut Barrick Mining from a “sector outperform” rating to a “neutral” rating and reduced their target price for the company from $57.00 to $49.00 in a report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.47.

Key Headlines Impacting Barrick Mining

These are some of the B headlines that stood out recently:

• Neutral Sentiment: Barrick filed to take American Barrick Gold public, a company intended to hold its North American gold assets. The transaction could unlock value, but its ultimate effect depends on IPO terms and how the separation is structured. Barrick Announces American Barrick and S-1 Filing
• Neutral Sentiment: JPMorgan lowered its price target to $53 from $55 but kept an Overweight rating, indicating a more cautious target while remaining constructive on the shares. JPMorgan analyst rating and price target
• Negative Sentiment: Cost inflation has weighed on the earnings response. Gold all-in sustaining costs rose to $1,911 per ounce and copper costs to $4.52 per pound, with Barrick citing factors including lower grades, royalties, fuel and labor costs. The cost pressure, alongside a sharp prior-session gold decline after hotter U.S. inflation data, overshadowed profit growth. Barrick Mining Falls as Rising Costs Overshadow Strong Quarterly Profit Growth

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.