Polar Asset Management Partners Inc. Makes New Investment in Barrick Mining Corporation $B

Key Points

• Polar Asset Management Partners initiated a new position in Barrick, buying 253,469 shares in Q3 worth about $8.32 million, and institutional investors now own roughly 90.82% of the stock.
• Barrick beat Q results, reporting $1.04 EPS versus a $0.85 estimate and revenue of $5.98 billion (up 44.6% year‑over‑year) with a net margin of 29.45%.
• The company raised its quarterly dividend to $0.42 from $0.18, equivalent to an annualized $1.68 payout and about a 4.2% yield.

Polar Asset Management Partners Inc. purchased a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 253,469 shares of the gold and copper producer's stock, valued at approximately $8,324,000.

Other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. acquired a new stake in Barrick Mining in the 2nd quarter valued at approximately $615,000. Creative Planning acquired a new position in Barrick Mining during the 2nd quarter worth approximately $3,116,000. Cetera Investment Advisers acquired a new position in Barrick Mining during the 2nd quarter worth approximately $4,225,000. Rockefeller Capital Management L.P. bought a new position in shares of Barrick Mining during the 2nd quarter worth approximately $11,111,000. Finally, Rothschild Investment LLC bought a new position in shares of Barrick Mining during the 2nd quarter worth approximately $282,000. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Trading Down 5.5%

Shares of Barrick Mining stock opened at $40.44 on Thursday. The stock has a market cap of $67.74 billion, a P/E ratio of 13.80, a P/E/G ratio of 1.42 and a beta of 0.41. The company has a quick ratio of 2.33, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. Barrick Mining Corporation has a 12-month low of $17.00 and a 12-month high of $54.69. The business's 50 day moving average is $47.67 and its 200-day moving average is $40.36.

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

Barrick Mining Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were given a $0.42 dividend. This is a boost from Barrick Mining's previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.2%. Barrick Mining's payout ratio is 57.34%.

Wall Street Analysts Forecast Growth

B has been the topic of a number of research reports. Jefferies Financial Group reissued a "buy" rating and issued a $55.00 price objective on shares of Barrick Mining in a research report on Sunday, December 7th. Citigroup raised their target price on shares of Barrick Mining from $38.00 to $48.00 and gave the company a "neutral" rating in a research report on Monday, February 9th. DZ Bank upgraded shares of Barrick Mining to a "strong-buy" rating in a research note on Monday, January 19th. Canaccord Genuity Group cut their price target on shares of Barrick Mining to $77.00 and set a "buy" rating on the stock in a research report on Wednesday, February 18th. Finally, Scotiabank increased their price objective on shares of Barrick Mining from $43.00 to $63.00 and gave the stock an "outperform" rating in a research note on Monday, January 26th. One equities research analyst has 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.com, the company has a consensus rating of "Moderate Buy" and an average target price of $55.25.

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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