Flax Pond Capital LLC Takes $3.50 Million Position in Barrick Mining Corporation $B

Flax Pond Capital LLC purchased a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 80,343 shares of the gold and copper producer’s stock, valued at approximately $3,499,000. Barrick Mining accounts for approximately 2.6% of Flax Pond Capital LLC’s portfolio, making the stock its 15th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Consulate Inc. lifted its holdings in Barrick Mining by 1,042.0% in the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after buying an additional 521 shares in the last quarter. Westside Investment Management Inc. acquired a new stake in shares of Barrick Mining during the fourth quarter valued at about $25,000. Intesa Sanpaolo Wealth Management acquired a new stake in shares of Barrick Mining during the fourth quarter valued at about $26,000. JPL Wealth Management LLC acquired a new stake in shares of Barrick Mining during the third quarter valued at about $28,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of Barrick Mining during the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Trading Down 0.0%

Shares of NYSE B opened at $40.32 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. The stock’s 50 day moving average price is $41.48 and its two-hundred day moving average price is $43.88. Barrick Mining Corporation has a 52-week low of $20.35 and a 52-week high of $54.69. The stock has a market capitalization of $67.07 billion, a P/E ratio of 11.14, a PEG ratio of 1.15 and a beta of 0.44.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping the consensus estimate of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.75 billion. The company’s revenue was up 66.7% on a year-over-year basis. On average, analysts anticipate that Barrick Mining Corporation will post 3.78 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. Investors of record on Friday, May 29th were paid a dividend of $0.175 per share. The ex-dividend date was Friday, May 29th. This represents a $0.70 annualized dividend and a yield of 1.7%. Barrick Mining’s dividend payout ratio (DPR) is 19.34%.

Wall Street Analyst Weigh In

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

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.