Renaissance Technologies LLC Has $223.39 Million Position in Barrick Mining Corporation $B

Key Points

• Renaissance Technologies sharply increased its Barrick Mining stake by 335.8% in Q1, ending with 5.48 million shares worth about $223.4 million.
• Barrick is drawing support from strong gold prices and exploration activity, including a new program with Midland on the Lewis gold project and a 10% stake purchase in Kingfisher Metals.
• Despite some positive momentum, analysts have grown more cautious: JPMorgan and other firms cut price targets, and one valuation article argued the stock may be about 15% overvalued on cash flow concerns.

Renaissance Technologies LLC boosted its position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 335.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,476,478 shares of the gold and copper producer's stock after purchasing an additional 4,219,700 shares during the quarter. Renaissance Technologies LLC owned about 0.33% of Barrick Mining worth $223,386,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FIL Ltd boosted its position in shares of Barrick Mining by 85.3% in the fourth quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer's stock valued at $1,311,169,000 after acquiring an additional 13,853,587 shares during the period. Van ECK Associates Corp grew its stake in shares of Barrick Mining by 22.8% in the fourth quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer's stock valued at $2,413,699,000 after acquiring an additional 10,287,544 shares in the last quarter. Ameriprise Financial Inc. bought a new position in Barrick Mining during the second quarter worth about $211,263,000. Canada Pension Plan Investment Board acquired a new stake in Barrick Mining in the 2nd quarter worth about $172,230,000. Finally, Mackenzie Financial Corp raised its stake in Barrick Mining by 61.9% in the 4th quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer's stock worth $909,104,000 after purchasing an additional 7,870,411 shares in the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Barrick Mining

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

• Positive Sentiment: Gold’s strength and expectations for continued central bank buying are keeping Barrick in the spotlight as investors look for miners that can benefit from higher bullion prices. Experts recommend buying gold and silver! Barrick Mining, Newmont, First Majestic Silver, and Desert Gold in focus
• Positive Sentiment: Analysts and commentators continue to highlight Barrick as a potential beneficiary of a gold breakout, with some suggesting the stock could reflect bullion’s strength if prices stay elevated. Can Barrick Mining NYSE: B Reflect Gold's Strength as Bullion Keeps Firm This Week?
• Positive Sentiment: Barrick announced an exploration program with Midland on the Lewis gold project, adding to the company’s growth pipeline and reinforcing its exploration footprint. Midland, in Partnership with Barrick, Commences an Exploration Program for Gold on the Lewis Project
• Positive Sentiment: Barrick also bought a 10% stake in Kingfisher Metals, a move that signals continued interest in securing optionality on prospective mining assets. Barrick Mining Buys 10% Stake in Kingfisher Metals for C$20.9 Million
• Neutral Sentiment: Broader market commentary says investors are rotating into gold and silver miners, but this is more of a sector call than a Barrick-specific catalyst. Gold price above USD 4,000 and central bank rally: Barrick Mining, Lahontan Gold, Newmont—time to buy now?
• Neutral Sentiment: Barrick said it supports local content rules, a policy stance that may help relationships with host governments but is not an immediate earnings driver. Barrick supports local content rules
• Negative Sentiment: A valuation article argues Barrick may be about 15% overvalued on cash flow concerns, suggesting some investors may worry the stock has outpaced fundamentals. Barrick (B) Stock May Be 15% Overvalued On Cash Flow Concerns
• Negative Sentiment: JPMorgan reportedly lowered its price target on Barrick to $50, which can signal more cautious expectations from analysts. JPMorgan Chase & Co. Lowers Barrick Mining NYSE: B Price Target to $50.00

Barrick Mining Trading Down 0.1%

Shares of Barrick Mining stock opened at $37.12 on Friday. The company has a quick ratio of 2.44, a current ratio of 3.06 and a debt-to-equity ratio of 0.13. Barrick Mining Corporation has a 12-month low of $20.94 and a 12-month high of $54.69. The company has a market capitalization of $61.74 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 0.79 and a beta of 0.48. The firm's 50-day moving average price is $38.86 and its two-hundred day moving average price is $42.76.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its earnings results 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. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The company had revenue of $4.11 billion during the quarter, compared to analysts' expectations of $4.75 billion. The firm's revenue was up 66.7% compared to the same quarter last year. On average, analysts forecast that Barrick Mining Corporation will post 3.56 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, May 29th. Barrick Mining's payout ratio is currently 19.34%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on B. JPMorgan Chase & Co. decreased their target price on shares of Barrick Mining from $58.00 to $50.00 and set an "overweight" rating on the stock in a research report on Tuesday. Canadian Imperial Bank of Commerce dropped their price target on shares of Barrick Mining to $63.00 and set an "outperformer" rating for the company in a research report on Tuesday, April 21st. Royal Bank Of Canada cut their price target on Barrick Mining from $51.00 to $49.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Wall Street Zen downgraded Barrick Mining from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Barclays lowered their price objective on Barrick Mining from $41.00 to $39.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $52.46.

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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