Picton Mahoney Asset Management Buys 1,488,438 Shares of Barrick Mining Corporation $B

Picton Mahoney Asset Management increased its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 1,673.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,577,359 shares of the gold and copper producer’s stock after purchasing an additional 1,488,438 shares during the period. Picton Mahoney Asset Management owned 0.09% of Barrick Mining worth $51,797,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. bought a new stake in shares of Barrick Mining during the second quarter valued at about $17,559,000. Keybank National Association OH purchased a new position in Barrick Mining during the second quarter valued at approximately $362,000. Sigma Planning Corp bought a new stake in Barrick Mining during the 2nd quarter worth approximately $1,306,000. Burney Co. bought a new stake in Barrick Mining during the 2nd quarter worth approximately $1,026,000. Finally, Bank of New York Mellon Corp purchased a new stake in Barrick Mining in the 2nd quarter worth approximately $33,811,000. Institutional investors own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Canaccord Genuity Group reduced their price target on shares of Barrick Mining to $77.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. UBS Group set a $55.00 target price on Barrick Mining in a research report on Friday, February 6th. Wall Street Zen upgraded Barrick Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. BNP Paribas Exane raised Barrick Mining to a “neutral” rating and set a $50.00 price target on the stock in a report on Friday, December 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Barrick Mining in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.25.

Barrick Mining Trading Down 8.4%

NYSE B opened at $46.28 on Wednesday. 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 stock’s 50-day simple moving average is $47.85 and its two-hundred day simple moving average is $39.02. Barrick Mining Corporation has a twelve month low of $17.00 and a twelve month high of $54.69. The company has a market capitalization of $77.54 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 1.58 and a beta of 0.41.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.19. The firm had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.Barrick Mining’s revenue was up 44.6% compared to the same quarter last year. Research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, February 27th. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. This represents a $1.68 dividend on an annualized basis and a yield of 3.6%. Barrick Mining’s dividend payout ratio (DPR) is 57.34%.

About Barrick Mining

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.