Centiva Capital LP Buys Shares of 93,645 Barrick Mining Corporation $B

Key Points

• Centiva Capital LP opened a new position in Barrick Mining, buying 93,645 shares valued at about $3.07 million, and overall institutional ownership of the stock stands at roughly 90.82% with several large funds (Capital International, Vanguard, CIBC) also increasing stakes.
• Barrick beat Q results expectations (EPS $1.04 vs. $0.85; revenue $5.98B, up 44.6% YoY) and raised its quarterly dividend to $0.42 from $0.18 (annualized $1.68, ~4.0% yield).
• Analyst sentiment is broadly positive—MarketBeat shows a consensus "Moderate Buy" with an average price target of $55.25 and multiple upgrades/raised targets—even as the stock recently traded near $42.31 (down ~4.9%) and the company has a market cap of about $70.9 billion.

Centiva Capital LP bought a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 93,645 shares of the gold and copper producer's stock, valued at approximately $3,069,000.

Several other hedge funds also recently made changes to their positions in the stock. Capital International Investors raised its stake in shares of Barrick Mining by 35.9% during the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer's stock valued at $3,340,709,000 after purchasing an additional 26,921,219 shares during the period. Vanguard Group Inc. boosted its stake in Barrick Mining by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 70,878,168 shares of the gold and copper producer's stock worth $2,327,991,000 after purchasing an additional 767,544 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Barrick Mining in the 2nd quarter worth about $1,091,122,000. TD Asset Management Inc grew its holdings in Barrick Mining by 3.8% during the 3rd quarter. TD Asset Management Inc now owns 19,309,335 shares of the gold and copper producer's stock valued at $634,346,000 after buying an additional 715,151 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of 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 buying an additional 13,891,886 shares during the period. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

B has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 7th. Scotiabank upped their target price 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. Raymond James Financial increased their target price on shares of Barrick Mining from $40.00 to $42.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 25th. Zacks Research downgraded shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 13th. Finally, Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating and issued a $71.00 price target on shares of Barrick Mining in a report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Barrick Mining has an average rating of "Moderate Buy" and a consensus price target of $55.25.

Barrick Mining Stock Down 4.9%

Shares of NYSE B 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. The business has a 50-day moving average of $47.96 and a 200-day moving average of $40.03. The firm has a market capitalization of $70.88 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.32 and a beta of 0.41. Barrick Mining Corporation has a 12 month low of $17.00 and a 12 month high of $54.69.

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 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.19. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The business had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $5.15 billion. Barrick Mining's quarterly revenue was up 44.6% compared to the same quarter last year. Sell-side analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given a dividend of $0.42 per share. This is an increase from Barrick Mining's previous quarterly dividend of $0.18. The ex-dividend date is Friday, February 27th. This represents a $1.68 annualized dividend and a dividend yield of 4.0%. Barrick Mining's dividend 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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