Geneva Partners LLC Invests $3.87 Million in Barrick Mining Corporation $B

Key Points

• Geneva Partners LLC bought a new position of 88,850 shares of Barrick Mining (NYSE:B) in Q4, valued at approximately $3.87 million, representing about 1.4% of its holdings and the fund's 25th largest position.
• Several large institutions materially increased stakes—e.g., Capital International Investors (+35.9% to 101.85M shares), CIBC Asset Management (+316% to 18.29M), Connor Clark & Lunn (+664.1% to 9.01M)—and overall institutional ownership stands at 90.82%.
• Barrick recently beat Q4 estimates with $1.04 EPS versus $0.85 expected and revenue up 44.6% to $5.98B; analysts’ consensus is a "Moderate Buy" with an average target of $54.17.

Geneva Partners LLC bought a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 88,850 shares of the gold and copper producer's stock, valued at approximately $3,869,000. Barrick Mining comprises about 1.4% of Geneva Partners LLC's holdings, making the stock its 25th largest position.

A number of other large investors have also recently made changes to their positions in B. Capital International Investors increased its holdings in shares of Barrick Mining by 35.9% in the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer's stock worth $3,340,709,000 after buying an additional 26,921,219 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Barrick Mining by 316.0% in the 3rd quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer's stock worth $601,115,000 after buying an additional 13,891,886 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in shares of Barrick Mining in the 2nd quarter worth about $211,263,000. Canada Pension Plan Investment Board bought a new stake in shares of Barrick Mining in the 2nd quarter worth about $172,230,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Barrick Mining by 664.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,013,464 shares of the gold and copper producer's stock worth $295,977,000 after buying an additional 7,833,887 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Canadian Imperial Bank of Commerce reduced their target price on shares of Barrick Mining to $63.00 and set an "outperformer" rating on the stock in a report on Tuesday, April 21st. 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. started coverage on shares of Barrick Mining in a report on Thursday, January 29th. They issued an "overweight" rating and a $68.00 target price on the stock. Wall Street Zen raised shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 7th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Barrick Mining in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $54.17.

Barrick Mining Price Performance

B stock opened at $41.87 on Friday. Barrick Mining Corporation has a 12 month low of $17.41 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 50-day moving average price of $42.36 and a 200 day moving average price of $42.56. The stock has a market cap of $70.16 billion, a PE ratio of 14.29, a P/E/G ratio of 1.24 and a beta of 0.41.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, topping 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 firm had revenue of $5.98 billion during the quarter, compared to analysts' expectations of $5.15 billion. The firm's quarterly revenue was up 44.6% on a year-over-year basis. Equities research analysts anticipate that Barrick Mining Corporation will post 3.56 earnings per share for the current year.

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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