Pekao Towarzystwo Funduszy Inwestycyjnych S.A. Takes $4.12 Million Position in Barrick Mining Corporation $B

Key Points

• Pekao Towarzystwo Funduszy Inwestycyjnych S.A. acquired a new stake of 94,289 shares in Barrick Mining worth about $4.12 million, representing roughly 3.4% of the fund's portfolio and its 7th-largest holding.
• Barrick beat Q4 estimates with EPS of $1.04 (vs. $0.85) and revenue of $5.98B (vs. $5.15B), and raised its quarterly dividend to $0.42 (annualized $1.68), implying a ~3.9% yield.
• Analysts hold a consensus "Moderate Buy" with an average price target of $54.83, while institutional ownership is high at ~90.82%, including large recent increases from Quadrature and CIBC.

Pekao Towarzystwo Funduszy Inwestycyjnych S.A. acquired a new stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 94,289 shares of the gold and copper producer's stock, valued at approximately $4,115,000. Barrick Mining makes up approximately 3.4% of Pekao Towarzystwo Funduszy Inwestycyjnych S.A.'s portfolio, making the stock its 7th biggest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quadrature Capital Ltd increased its holdings in shares of Barrick Mining by 113.2% during the third quarter. Quadrature Capital Ltd now owns 3,984,800 shares of the gold and copper producer's stock valued at $130,764,000 after acquiring an additional 2,115,800 shares in the last quarter. CIBC Asset Management Inc increased its holdings 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 acquiring an additional 13,891,886 shares in the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of Barrick Mining during the third quarter valued at approximately $1,889,000. Picton Mahoney Asset Management increased its holdings in shares of Barrick Mining by 1,673.9% during the third quarter. Picton Mahoney Asset Management now owns 1,577,359 shares of the gold and copper producer's stock valued at $51,797,000 after acquiring an additional 1,488,438 shares in the last quarter. Finally, Truist Financial Corp grew its holdings in Barrick Mining by 46.5% during the third quarter. Truist Financial Corp now owns 65,112 shares of the gold and copper producer's stock worth $2,134,000 after buying an additional 20,655 shares in the last quarter. Institutional investors own 90.82% of the company's stock.

Wall Street Analysts Forecast Growth

B has been the subject of several recent research reports. Scotiabank upped their price target on Barrick Mining from $43.00 to $63.00 and gave the stock an "outperform" rating in a report on Monday, January 26th. ATB Cormark Capital Markets downgraded Barrick Mining from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 7th. Canaccord Genuity Group decreased their price target on Barrick Mining to $77.00 and set a "buy" rating for the company in a report on Wednesday, February 18th. Citigroup upped their price target on Barrick Mining from $38.00 to $48.00 and gave the stock a "neutral" rating in a report on Monday, February 9th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Barrick Mining in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $54.83.

Barrick Mining Stock Up 2.1%

Shares of NYSE:B opened at $43.29 on Friday. The company has a market capitalization of $72.53 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 1.58 and a beta of 0.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 2.33. The business has a fifty day moving average price of $44.12 and a two-hundred day moving average price of $41.94. Barrick Mining Corporation has a 1 year low of $17.41 and a 1 year high of $54.69.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.19. The firm had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The company's revenue for the quarter was up 44.6% compared to the same quarter last year. Analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were paid a $0.42 dividend. This is a boost from Barrick Mining's previous quarterly dividend of $0.18. The ex-dividend date was Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a yield of 3.9%. Barrick Mining's dividend payout ratio is currently 57.34%.

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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