Barrick Mining Corporation $B Shares Bought by Flax Pond Capital LLC

Flax Pond Capital LLC raised its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 34.4% during the 1st quarter, Holdings Channel reports. The firm owned 107,943 shares of the gold and copper producer’s stock after purchasing an additional 27,600 shares during the quarter. Barrick Mining comprises 3.5% of Flax Pond Capital LLC’s investment portfolio, making the stock its 10th biggest holding. Flax Pond Capital LLC’s holdings in Barrick Mining were worth $4,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. CW Advisors LLC acquired a new position in shares of Barrick Mining during the 2nd quarter worth approximately $283,000. EverSource Wealth Advisors LLC acquired a new stake in Barrick Mining during the 2nd quarter valued at $53,000. First Trust Advisors LP acquired a new stake in Barrick Mining during the 2nd quarter valued at $857,000. Baird Financial Group Inc. purchased a new position in Barrick Mining during the second quarter worth $2,569,000. Finally, Cresset Asset Management LLC purchased a new position in Barrick Mining during the second quarter worth $543,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barrick Mining Trading Up 3.6%

Shares of Barrick Mining stock opened at $37.66 on Friday. Barrick Mining Corporation has a fifty-two week low of $20.94 and a fifty-two week high of $54.69. The firm has a market cap of $62.65 billion, a PE ratio of 10.40, a P/E/G ratio of 0.77 and a beta of 0.48. The business’s fifty day moving average is $38.57 and its two-hundred day moving average is $42.44. 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 (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.18. The business had revenue of $4.11 billion during 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 quarterly revenue was up 66.7% on a year-over-year basis. Analysts anticipate that Barrick Mining Corporation will post 3.57 earnings per share for the current year.

Barrick Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, May 29th. Barrick Mining’s dividend payout ratio (DPR) is presently 19.34%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Barclays reduced their price objective on Barrick Mining from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 15th. Bank of America dropped their price objective on Barrick Mining from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Weiss Ratings downgraded shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. ATB Cormark Capital Markets lowered shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Scotiabank decreased their price target on shares of Barrick Mining from $63.00 to $57.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Barrick Mining presently has a consensus 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.