Y Intercept Hong Kong Ltd Makes New Investment in Barrick Mining Corporation $B

Y Intercept Hong Kong Ltd acquired a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 431,177 shares of the gold and copper producer’s stock, valued at approximately $17,588,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Westside Investment Management Inc. purchased a new stake in shares of Barrick Mining during the 4th quarter valued at about $25,000. Financial Consulate Inc. lifted its position in shares of Barrick Mining by 1,042.0% during the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after purchasing an additional 521 shares in the last quarter. Intesa Sanpaolo Wealth Management acquired a new position in shares of Barrick Mining during the fourth quarter worth $26,000. Laurel Wealth Advisors LLC purchased a new position in shares of Barrick Mining in the fourth quarter valued at $30,000. Finally, Motiv8 Investments LLC purchased a new position in shares of Barrick Mining in the fourth quarter valued at $31,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Barrick Mining Trading Up 4.8%

B opened at $38.22 on Friday. Barrick Mining Corporation has a 12-month low of $20.52 and a 12-month high of $54.69. 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 stock has a market capitalization of $63.57 billion, a PE ratio of 10.56, a P/E/G ratio of 1.04 and a beta of 0.48. The firm’s fifty day moving average price is $40.52 and its 200 day moving average price is $43.64.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share 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 net margin of 32.14% and a return on equity of 14.81%. The firm’s quarterly revenue was up 66.7% on a year-over-year basis. As a group, research analysts expect that Barrick Mining Corporation will post 3.78 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a dividend of $0.175 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.70 annualized dividend and a dividend yield of 1.8%. Barrick Mining’s dividend payout ratio (DPR) is presently 19.34%.

Analyst Ratings Changes

B has been the topic of several analyst reports. UBS Group dropped their price target on shares of Barrick Mining from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday. Canadian Imperial Bank of Commerce lowered their target price on Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research note on Tuesday, April 21st. Weiss Ratings lowered Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Barclays initiated coverage on Barrick Mining in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price target on the stock. Finally, ATB Cormark Capital Markets downgraded Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.15.

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.