BlueCrest Capital Management Ltd Invests $1.89 Million in Barrick Mining Corporation $B

BlueCrest Capital Management Ltd purchased a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 57,645 shares of the gold and copper producer’s stock, valued at approximately $1,889,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Greenfield Seitz Capital Management LLC purchased a new stake in Barrick Mining during the third quarter worth about $10,783,000. CIBC Private Wealth Group LLC boosted its stake in Barrick Mining by 58.0% in the third quarter. CIBC Private Wealth Group LLC now owns 3,973 shares of the gold and copper producer’s stock valued at $130,000 after acquiring an additional 1,458 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Barrick Mining in the third quarter valued at about $299,000. Captrust Financial Advisors grew its position in shares of Barrick Mining by 12.0% during the 3rd quarter. Captrust Financial Advisors now owns 200,642 shares of the gold and copper producer’s stock valued at $6,575,000 after acquiring an additional 21,449 shares during the period. Finally, Coldstream Capital Management Inc. bought a new position in shares of Barrick Mining during the 3rd quarter valued at approximately $240,000. Institutional investors own 90.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. BNP Paribas Exane raised shares of Barrick Mining to a “neutral” rating and set a $50.00 price target on the stock in a report on Friday, December 5th. UBS Group set a $55.00 price objective on Barrick Mining in a research note on Friday, February 6th. Wall Street Zen raised Barrick Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Scotiabank boosted their target price on Barrick Mining from $43.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Barrick Mining in a research report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $55.25.

Barrick Mining Stock Performance

NYSE B opened at $42.78 on Wednesday. The firm has a market cap of $71.66 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 1.35 and a beta of 0.41. 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 company’s 50 day moving average is $47.81 and its 200-day moving average is $40.36. Barrick Mining Corporation has a 12-month low of $17.00 and a 12-month high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, topping 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 company had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.15 billion. The firm’s revenue for the quarter was up 44.6% on a year-over-year basis. Sell-side analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were issued a $0.42 dividend. The ex-dividend date of this dividend was 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 dividend yield of 3.9%. Barrick Mining’s dividend payout ratio 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.