45,000 Shares in Barrick Mining Corporation $B Purchased by GeoSphere Capital Management LLC

Key Points

• GeoSphere Capital Management LLC opened a new position in Barrick Mining during the fourth quarter, buying 45,000 shares worth about $1.96 million. The stake makes up roughly 0.6% of GeoSphere’s portfolio.
• Barrick Mining recently reported quarterly earnings of $0.98 per share, beating analyst estimates, while revenue came in at $4.11 billion versus expectations of $4.75 billion. Revenue still rose 66.7% year over year.
• The company announced a quarterly dividend of $0.175 per share, payable June 15, which works out to an annualized yield of about 1.7%. Barrick’s stock also has a consensus analyst rating of Moderate Buy with an average price target of $53.46.

GeoSphere Capital Management LLC bought a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 45,000 shares of the gold and copper producer's stock, valued at approximately $1,960,000. Barrick Mining comprises approximately 0.6% of GeoSphere Capital Management LLC's portfolio, making the stock its 26th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bogart Wealth LLC boosted its stake in Barrick Mining by 3.5% in the fourth quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer's stock valued at $281,000 after acquiring an additional 218 shares during the last quarter. S.A. Mason LLC boosted its stake in Barrick Mining by 1.3% in the fourth quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer's stock valued at $1,007,000 after acquiring an additional 300 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Barrick Mining by 1.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 31,212 shares of the gold and copper producer's stock valued at $1,359,000 after acquiring an additional 302 shares during the last quarter. Legacy Financial Advisors Inc. boosted its stake in Barrick Mining by 3.9% in the fourth quarter. Legacy Financial Advisors Inc. now owns 8,569 shares of the gold and copper producer's stock valued at $373,000 after acquiring an additional 319 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its stake in Barrick Mining by 4.2% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 8,300 shares of the gold and copper producer's stock valued at $361,000 after acquiring an additional 332 shares during the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Trading Down 0.1%

Shares of Barrick Mining stock opened at $40.64 on Monday. Barrick Mining Corporation has a 12-month low of $18.58 and a 12-month high of $54.69. The company has a market cap of $68.10 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.10 and a beta of 0.41. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13. The company's 50-day moving average price is $41.26 and its 200-day moving average price is $43.34.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted 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 for the quarter, compared to analysts' expectations of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. Barrick Mining's revenue for the quarter was up 66.7% on a year-over-year basis. On average, equities analysts expect that Barrick Mining Corporation will post 3.7 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, May 29th. Barrick Mining's dividend payout ratio is 46.41%.

Analyst Ratings Changes

B has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 7th. Scotiabank upped their price objective on shares of Barrick Mining from $43.00 to $63.00 and gave the company an "outperform" rating in a report on Monday, January 26th. ATB Cormark Capital Markets downgraded shares of Barrick Mining from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 7th. JPMorgan Chase & Co. assumed coverage on shares of Barrick Mining in a report on Thursday, January 29th. They set an "overweight" rating and a $68.00 price objective on the stock. Finally, Barclays assumed coverage on shares of Barrick Mining in a report on Thursday. They set an "equal weight" rating and a $41.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Barrick Mining presently has a consensus rating of "Moderate Buy" and an average price target of $53.46.

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.

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