Great Diamond Partners LLC Makes New $2.39 Million Investment in Barrick Mining Corporation $B

Key Points

• Great Diamond Partners LLC opened a new position in Barrick Mining during the fourth quarter, buying 54,953 shares valued at about $2.39 million.
• Institutional interest remains strong, with hedge funds and other investors owning 90.82% of Barrick’s stock after several firms recently increased their stakes. Analyst sentiment is also broadly positive, with a consensus rating of Moderate Buy and an average price target of $54.50.
• Barrick recently reported quarterly EPS of $0.98, beating estimates, and announced a quarterly dividend of $0.175 per share payable June 15. The company also faces mixed signals from analysts and news flow, including a reported Q1 production dip and an IPO-plan-related valuation focus.

Great Diamond Partners LLC bought a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 54,953 shares of the gold and copper producer's stock, valued at approximately $2,393,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quadrature Capital Ltd boosted its stake in shares of Barrick Mining by 113.2% in the 3rd quarter. Quadrature Capital Ltd now owns 3,984,800 shares of the gold and copper producer's stock worth $130,764,000 after buying an additional 2,115,800 shares during the last quarter. CIBC Asset Management Inc boosted its stake 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. BlueCrest Capital Management Ltd purchased a new position in shares of Barrick Mining in the 3rd quarter worth approximately $1,889,000. WINTON GROUP Ltd purchased a new position in shares of Barrick Mining in the 3rd quarter worth approximately $12,739,000. Finally, Picton Mahoney Asset Management boosted its stake in shares of Barrick Mining by 1,673.9% in the 3rd quarter. Picton Mahoney Asset Management now owns 1,577,359 shares of the gold and copper producer's stock worth $51,797,000 after buying an additional 1,488,438 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on B shares. Wall Street Zen upgraded Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 7th. Weiss Ratings downgraded Barrick Mining from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. ATB Cormark Capital Markets downgraded Barrick Mining from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Canaccord Genuity Group dropped their price objective on Barrick Mining to $77.00 and set a "buy" rating on the stock in a research note on Wednesday, February 18th. Finally, Citigroup upped their price objective on Barrick Mining from $38.00 to $48.00 and gave the company a "neutral" rating in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $54.50.

Barrick Mining News Roundup

Here are the key news stories impacting Barrick Mining this week:

• Positive Sentiment: RBC Capital reiterated its Buy rating on Barrick Mining, reinforcing the view that the company remains attractive relative to peers. RBC Capital Sticks to Their Buy Rating for Barrick Mining (B)
• Positive Sentiment: Another report highlighted Barrick as a fresh Buy idea, suggesting continued market support for the gold-and-copper producer. Barrick Mining (B): New Buy Recommendation for This Basic Materials Giant
• Positive Sentiment: Investors are also focused on Barrick’s reported IPO plan, which could help unlock shareholder value by highlighting the worth of parts of the business. Barrick Mining IPO Plan Highlights Valuation Gap And Investor Trade Offs
• Positive Sentiment: Bullish sector coverage continues to emphasize Barrick’s strong projects, rising cash flow potential, and resilience in a supportive gold-price environment. B vs. KGC: Which Gold Mining Stock Should You Bet on Now?
• Neutral Sentiment: Barrick is stepping up Ebola precautions at its Kibali mine in Congo; the company says there are no reported cases at the site, but the health measures could still raise operational watchfulness. Barrick steps up Ebola precautions at Kibali mine
• Neutral Sentiment: Recent commentary also noted Barrick’s Q1 production slip versus last year, although management appears to be targeting a second-quarter rebound. Barrick Mining's Q1 Gold Production Slips: Will It Rebound in Q2?

Barrick Mining Price Performance

Barrick Mining stock opened at $40.95 on Thursday. Barrick Mining Corporation has a 12 month low of $18.41 and a 12 month high of $54.69. 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 business's 50 day simple moving average is $41.45 and its 200 day simple moving average is $43.22. The company has a market cap of $68.61 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 1.07 and a beta of 0.41.

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 EPS for the quarter, beating the consensus estimate of $0.80 by $0.18. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The company's revenue was up 66.7% on a year-over-year basis. Sell-side analysts forecast that Barrick Mining Corporation will post 3.7 EPS for the current year.

Barrick Mining Cuts Dividend

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

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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