Aquatic Capital Management LLC Takes Position in Barrick Mining Corporation $B

Key Points

• Aquatic Capital Management purchased a new stake of 552,971 shares of Barrick (about $18.12 million) in Q3, joining other institutions in a stock that is 90.82% institutionally owned.
• Barrick beat quarterly expectations with $1.04 EPS versus $0.85 expected and revenue of $5.98 billion (up 44.6% YoY), and raised its quarterly dividend to $0.42 (annualized $1.68, ~4.0% yield).
• Analysts maintain a consensus of "Moderate Buy" with an average price target of $55.25 (2 Strong Buy, 17 Buy, 3 Hold).

Aquatic Capital Management LLC purchased a new stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 552,971 shares of the gold and copper producer's stock, valued at approximately $18,121,000.

Other large investors have also recently added to or reduced their stakes in the company. Savant Capital LLC purchased a new position in Barrick Mining in the second quarter worth approximately $490,000. Acadian Asset Management LLC purchased a new stake in Barrick Mining in the second quarter valued at $2,052,000. Allworth Financial LP acquired a new position in shares of Barrick Mining in the 2nd quarter valued at $350,000. CENTRAL TRUST Co acquired a new position in shares of Barrick Mining in the 2nd quarter valued at $37,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Barrick Mining during the 2nd quarter worth $10,105,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on B. Canadian Imperial Bank of Commerce reissued an "outperform" rating and set a $71.00 price objective on shares of Barrick Mining in a research report on Wednesday, February 4th. Canaccord Genuity Group lowered their target price on shares of Barrick Mining to $77.00 and set a "buy" rating for the company in a research note on Wednesday, February 18th. TD Cowen reiterated a "buy" rating on shares of Barrick Mining in a research report on Wednesday, November 26th. Zacks Research downgraded shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 13th. Finally, Scotiabank upped their price objective on shares of Barrick Mining from $43.00 to $63.00 and gave the stock an "outperform" rating in a report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $55.25.

Barrick Mining Price Performance

B stock opened at $42.31 on Friday. The business's fifty day moving average price is $47.96 and its 200 day moving average price is $40.03. Barrick Mining Corporation has a 12-month low of $17.00 and a 12-month high of $54.69. The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $70.88 billion, a PE ratio of 14.44, a P/E/G ratio of 1.32 and a beta of 0.41.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its earnings results 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 company 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. On average, sell-side analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from Barrick Mining's previous quarterly dividend of $0.18. This represents a $1.68 annualized dividend and a dividend yield of 4.0%. Barrick Mining's payout ratio is 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.

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