Flax Pond Capital LLC Makes New $3.50 Million Investment in Barrick Mining Corporation $B

Flax Pond Capital LLC purchased a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 80,343 shares of the gold and copper producer’s stock, valued at approximately $3,499,000. Barrick Mining comprises 2.6% of Flax Pond Capital LLC’s investment portfolio, making the stock its 15th biggest position.

Other institutional investors also recently made changes to their positions in the company. Auto Owners Insurance Co boosted its holdings in Barrick Mining by 4,255.0% in the fourth quarter. Auto Owners Insurance Co now owns 444,210 shares of the gold and copper producer’s stock valued at $1,934,000 after acquiring an additional 434,010 shares during the last quarter. Pure Financial Advisors LLC purchased a new stake in Barrick Mining during the fourth quarter valued at about $256,000. Employees Provident Fund Board acquired a new stake in Barrick Mining during the fourth quarter worth about $221,664,000. Caitong International Asset Management Co. Ltd increased its stake in Barrick Mining by 24.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 34,292 shares of the gold and copper producer’s stock worth $1,493,000 after acquiring an additional 6,792 shares during the last quarter. Finally, Oak Grove Capital LLC purchased a new position in shares of Barrick Mining in the 4th quarter worth about $348,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Trading Down 0.0%

NYSE:B opened at $40.32 on Friday. The business’s 50-day moving average is $41.48 and its two-hundred day moving average is $43.88. The firm has a market capitalization of $67.07 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 1.15 and a beta of 0.44. Barrick Mining Corporation has a 12 month low of $20.35 and a 12 month high of $54.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share 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 the consensus estimate of $4.75 billion. The company’s revenue was up 66.7% compared to the same quarter last year. Research analysts predict that Barrick Mining Corporation will post 3.78 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on B shares. ATB Cormark Capital Markets lowered Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. UBS Group increased their target price on shares of Barrick Mining from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Barclays began coverage on shares of Barrick Mining in a report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price target on the stock. Canadian Imperial Bank of Commerce reduced their price target on shares of Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 21st. Finally, 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. 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 has an average rating of “Moderate Buy” and an average target price of $53.46.

About Barrick Mining

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.