Barrick Mining Corporation $B Shares Bought by Cannell & Spears LLC

Cannell & Spears LLC raised its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 776.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,856,103 shares of the gold and copper producer’s stock after purchasing an additional 1,644,345 shares during the quarter. Barrick Mining accounts for approximately 1.1% of Cannell & Spears LLC’s investment portfolio, making the stock its 21st biggest holding. Cannell & Spears LLC owned 0.11% of Barrick Mining worth $60,824,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new position in shares of Barrick Mining during the 2nd quarter valued at about $1,459,633,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Barrick Mining in the second quarter worth about $1,091,122,000. Capital International Investors grew its holdings 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 acquiring an additional 26,921,219 shares during the period. Geode Capital Management LLC acquired a new stake in Barrick Mining during the second quarter worth about $307,855,000. Finally, CIBC Asset Management Inc raised its position in Barrick Mining by 316.0% during the third quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer’s stock valued at $601,115,000 after acquiring an additional 13,891,886 shares in the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

B has been the subject of a number of analyst reports. DZ Bank raised Barrick Mining to a “strong-buy” rating in a report on Monday, January 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Barrick Mining in a report on Monday, December 29th. TD Cowen reiterated a “buy” rating on shares of Barrick Mining in a research note on Wednesday, November 26th. Raymond James Financial increased their price target on shares of Barrick Mining from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, November 25th. Finally, Bank of America upgraded shares of Barrick Mining from a “neutral” rating to a “buy” rating and raised their price target for the company from $38.00 to $48.00 in a research report on Monday, November 24th. Two equities 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. According to data from MarketBeat, Barrick Mining presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.25.

Barrick Mining Stock Performance

Shares of B stock opened at $42.31 on Friday. The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13. Barrick Mining Corporation has a 12-month low of $17.00 and a 12-month high of $54.69. The business’s 50 day moving average is $47.96 and its two-hundred day moving average is $40.03. The company has a market capitalization of $70.88 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.32 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 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.19. The business 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 for the quarter was up 44.6% compared to the same quarter last year. Analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.42 per share. 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 dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, February 27th. Barrick Mining’s dividend payout ratio is presently 57.34%.

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.