Empyrean Capital Partners LP Makes New $35.76 Million Investment in Barrick Mining Corporation $B

Empyrean Capital Partners LP bought a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 821,000 shares of the gold and copper producer’s stock, valued at approximately $35,755,000. Barrick Mining comprises approximately 1.2% of Empyrean Capital Partners LP’s portfolio, making the stock its 26th largest position.

A number of other large investors have also recently bought and sold shares of the business. Bogart Wealth LLC lifted its holdings in Barrick Mining by 3.5% in the fourth quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer’s stock worth $281,000 after acquiring an additional 218 shares during the last quarter. Parvin Asset Management LLC lifted its holdings in Barrick Mining by 0.7% in the fourth quarter. Parvin Asset Management LLC now owns 33,385 shares of the gold and copper producer’s stock worth $1,454,000 after acquiring an additional 225 shares during the last quarter. Mmbg Investment Advisors CO. lifted its holdings in Barrick Mining by 0.6% in the fourth quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer’s stock worth $1,892,000 after acquiring an additional 254 shares during the last quarter. S.A. Mason LLC lifted its holdings in Barrick Mining by 1.3% in the fourth quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer’s stock worth $1,007,000 after acquiring an additional 300 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in Barrick Mining by 1.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 31,212 shares of the gold and copper producer’s stock worth $1,359,000 after acquiring an additional 302 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Price Performance

Shares of NYSE:B opened at $41.30 on Thursday. The firm’s 50 day moving average is $41.55 and its two-hundred day moving average is $43.91. Barrick Mining Corporation has a 52 week low of $20.35 and a 52 week high of $54.69. The firm has a market capitalization of $68.70 billion, a P/E ratio of 11.41, a PEG ratio of 1.22 and a beta of 0.44. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B) (TSE:ABX) last posted 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. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. The company’s quarterly revenue was up 66.7% compared to the same quarter last year. Analysts anticipate that Barrick Mining Corporation will post 3.78 earnings per share for the current year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, May 29th. Barrick Mining’s dividend payout ratio (DPR) is currently 19.34%.

Wall Street Analyst Weigh In

B has been the topic of a number of recent research reports. Weiss Ratings cut shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. UBS Group raised their price target on shares of Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Barclays initiated coverage on shares of Barrick Mining in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price target on the stock. ATB Cormark Capital Markets lowered shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Canadian Imperial Bank of Commerce dropped their price target on shares of Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.46.

Barrick Mining 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.