K2 Principal Fund L.P. Boosts Stake in Barrick Mining Corporation $B

K2 Principal Fund L.P. lifted its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 26.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,145 shares of the gold and copper producer’s stock after buying an additional 21,300 shares during the quarter. K2 Principal Fund L.P.’s holdings in Barrick Mining were worth $4,405,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Capital International Investors boosted its position in Barrick Mining by 35.9% during the third quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock worth $3,340,709,000 after purchasing an additional 26,921,219 shares in the last quarter. Van ECK Associates Corp boosted its position in Barrick Mining by 22.8% during the fourth quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock worth $2,413,699,000 after purchasing an additional 10,287,544 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in Barrick Mining during the second quarter worth $211,263,000. Canada Pension Plan Investment Board purchased a new stake in Barrick Mining during the second quarter worth $172,230,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Barrick Mining by 664.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,013,464 shares of the gold and copper producer’s stock worth $295,977,000 after purchasing an additional 7,833,887 shares in the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on B shares. Canadian Imperial Bank of Commerce decreased their target price on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 21st. Barclays assumed coverage on Barrick Mining in a report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price target for the company. Canaccord Genuity Group cut their price target on Barrick Mining to $77.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. ATB Cormark Capital Markets cut Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, UBS Group boosted their price target on Barrick Mining from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Barrick Mining has a consensus rating of “Moderate Buy” and a consensus price target of $53.46.

Barrick Mining Stock Performance

Shares of NYSE:B opened at $40.22 on Friday. The firm has a market capitalization of $66.89 billion, a PE ratio of 11.11, a P/E/G ratio of 1.14 and a beta of 0.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44. The business has a 50-day moving average of $41.51 and a two-hundred day moving average of $43.85. Barrick Mining Corporation has a 12 month low of $20.35 and a 12 month high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last announced 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. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.Barrick Mining’s quarterly revenue was up 66.7% compared to the same quarter last year. As a group, research analysts forecast that Barrick Mining Corporation will post 3.78 earnings per share for the current year.

Barrick Mining Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.175 per share. The ex-dividend date is Friday, May 29th. This represents a $0.70 annualized dividend and a yield of 1.7%. Barrick Mining’s dividend payout ratio is currently 19.34%.

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.