Pictet Asset Management Holding SA Has $39.33 Million Holdings in Barrick Mining Corporation $B

Pictet Asset Management Holding SA increased its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 35.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 901,986 shares of the gold and copper producer’s stock after acquiring an additional 237,531 shares during the period. Pictet Asset Management Holding SA’s holdings in Barrick Mining were worth $39,330,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of B. Quadrature Capital Ltd increased its position in shares of Barrick Mining by 113.2% during the 3rd quarter. Quadrature Capital Ltd now owns 3,984,800 shares of the gold and copper producer’s stock worth $130,764,000 after purchasing an additional 2,115,800 shares in the last quarter. CIBC Asset Management Inc boosted its position in Barrick Mining by 316.0% in the third quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer’s stock valued at $601,115,000 after buying an additional 13,891,886 shares in the last quarter. BlueCrest Capital Management Ltd bought a new stake in Barrick Mining during the third quarter worth about $1,889,000. Picton Mahoney Asset Management grew its stake in Barrick Mining by 1,673.9% during the third quarter. Picton Mahoney Asset Management now owns 1,577,359 shares of the gold and copper producer’s stock worth $51,797,000 after buying an additional 1,488,438 shares during the last quarter. Finally, Truist Financial Corp increased its holdings in shares of Barrick Mining by 46.5% during the third quarter. Truist Financial Corp now owns 65,112 shares of the gold and copper producer’s stock worth $2,134,000 after buying an additional 20,655 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Trending Headlines about Barrick Mining

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

• Positive Sentiment: Barrick said it is targeting a year?end IPO for a new North America unit that could be valued above $60 billion, with a primary New York listing and Barrick keeping a majority stake — a move that could surface value in its North American gold assets (includes Nevada Gold Mines and Fourmile). Barrick Targets Year-End IPO For North America Unit Valued Above $60 Billion
• Positive Sentiment: Market research and Wall Street commentary are increasingly favorable: Barrick is being highlighted among top precious?metal stocks, which supports interest from institutional investors and price targets from analysts. Is Barrick (B) the Best Precious Metal Stock to Buy According to Wall Street Analysts?
• Neutral Sentiment: Barrick has appointed an executive leadership team to run the North American business ahead of the IPO — a necessary step for execution but still early in the timeline. Barrick Mining Appoints Leadership Team for New North American Unit Ahead of Planned IPO
• Negative Sentiment: Despite the strategic plan, investors appear to be taking profits after a strong one?year rally and reacting to execution/timing risk (IPO targeted for year?end). Analysts and commentators flag mixed valuation signals and the potential for near?term volatility. Assessing Barrick Gold (TSX:ABX) Valuation After A Strong Year And Recent Share Price Weakness
• Negative Sentiment: Sector and regional dynamics may weigh: Barrick’s choice of a U.S. primary listing (New York) over Canada and low near?term free?float for the spun unit (Barrick keeping a majority stake) create uncertainty for Canadian investors and could limit immediate liquidity benefits. Barrick Picks New York for North American Spinoff This Year
• Negative Sentiment: Broader materials/commodity weakness and technical pressure (shares trading below recent moving averages with above?average volume) add near?term downside risk until the IPO path and timing are clearer. TSX Down 180 Points at Midday With Tech, Materials Sectors The Worst Performers

Analyst Ratings Changes

B has been the subject of a number of research analyst reports. UBS Group cut their target price on shares of Barrick Mining from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Canaccord Genuity Group dropped their price target on Barrick Mining to $77.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. DZ Bank upgraded Barrick Mining to a “strong-buy” rating in a research report on Monday, January 19th. Scotiabank boosted their price objective on Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Finally, JPMorgan Chase & Co. started coverage on Barrick Mining in a report on Thursday, January 29th. They set an “overweight” rating and a $68.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Barrick Mining has an average rating of “Moderate Buy” and an average target price of $54.17.

Barrick Mining Price Performance

Shares of B stock opened at $38.37 on Thursday. Barrick Mining Corporation has a 1 year low of $17.41 and a 1 year 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 firm’s 50 day moving average is $43.04 and its 200-day moving average is $42.32. The firm has a market capitalization of $64.30 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 1.50 and a beta of 0.50.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.19. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.15 billion. The company’s quarterly revenue was up 44.6% on a year-over-year basis. Sell-side analysts forecast that Barrick Mining Corporation will post 3.55 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were paid a $0.42 dividend. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.68 annualized dividend and a dividend yield of 4.4%. Barrick Mining’s payout ratio is 57.34%.

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.