Quadrature Capital Ltd Boosts Stock Position in Barrick Mining Corporation $B

Key Points

• Quadrature Capital increased its stake in Barrick by 113.2% in Q3 to 3,984,800 shares (an additional 2,115,800 shares), representing about $130.8M and roughly 0.24% of Barrick; the position is Quadrature's 15th largest (~1.5% of its holdings).
• Barrick posted stronger-than-expected quarterly results with $1.04 EPS vs. $0.85 consensus and $5.98B revenue (vs. $5.15B), with revenue up 44.6% year-over-year and a net margin of 29.45%.
• The company raised its quarterly dividend to $0.42 (annualized $1.68, ~3.8% yield, up from $0.18) and enjoys generally positive analyst coverage—consensus is a “Moderate Buy” with an average target of $55.25 (some targets up to $68).

Quadrature Capital Ltd lifted its stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 113.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,984,800 shares of the gold and copper producer's stock after acquiring an additional 2,115,800 shares during the period. Barrick Mining makes up about 1.5% of Quadrature Capital Ltd's holdings, making the stock its 15th largest holding. Quadrature Capital Ltd owned 0.24% of Barrick Mining worth $130,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new stake in shares of Barrick Mining during the 2nd quarter valued at $33,811,000. Savant Capital LLC bought a new position in Barrick Mining in the 2nd quarter worth about $490,000. Vestmark Advisory Solutions Inc. purchased a new position in Barrick Mining during the 2nd quarter valued at about $256,000. Wedbush Securities Inc. bought a new stake in shares of Barrick Mining during the second quarter valued at about $267,000. Finally, Penserra Capital Management LLC bought a new stake in shares of Barrick Mining during the second quarter valued at about $68,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Stock Performance

Shares of B opened at $44.50 on Friday. Barrick Mining Corporation has a 12-month low of $17.00 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 market cap of $74.55 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41. The stock has a 50-day moving average price of $47.99 and a 200-day moving average price of $39.83.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.19. The company had revenue of $5.98 billion for 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 revenue for the quarter was up 44.6% on a year-over-year basis. As a group, equities analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from Barrick Mining's previous quarterly dividend of $0.18. Barrick Mining's payout ratio is currently 57.34%.

Wall Street Analyst Weigh In

B has been the subject of a number of analyst reports. Jefferies Financial Group restated a "buy" rating and issued a $55.00 price objective on shares of Barrick Mining in a research report on Sunday, December 7th. Raymond James Financial upped their target price on shares of Barrick Mining from $40.00 to $42.00 and gave the stock an "outperform" rating in a report on Tuesday, November 25th. Scotiabank increased their target price 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. 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 price target for the company. Finally, UBS Group set a $55.00 price target on shares of Barrick Mining in a research report on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $55.25.

Barrick Mining Company 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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