Improved Investor Sentiment Boosted Barrick Mining Corporation (B) by 60% in Q3

Pelican Bay Capital Management, an investment management company, released its third-quarter 2025 investor letter. A copy of the same can be downloaded here. PBCM Concentrated Value Strategy returned 7.8% in the quarter, compared to a 5.3% return for the Russell 1000 Value Index. YTD, the fund returned 11.2% compared to 11.6% for the index. In addition, please check the fund’s top five holdings to know its best picks in 2025.

In its third-quarter 2025 investor letter, PBCM Concentrated Value Strategy highlighted stocks such as Barrick Mining Corporation (NYSE:B). Barrick Mining Corporation (NYSE:B) is a mining company engaged in the exploration, development, production, and sale of mineral properties. The one-month return of Barrick Mining Corporation (NYSE:B) was -0.58%, and its shares gained 76.90% of their value over the last 52 weeks. On November 6, 2025, Barrick Mining Corporation (NYSE:B) stock closed at $32.55 per share, with a market capitalization of $55.557 billion.

PBCM Concentrated Value Strategy stated the following regarding Barrick Mining Corporation (NYSE:B) in its third quarter 2025 investor letter:

"Our recovery versus the Index was primarily driven by gains in gold miners and technology stocks. Notably, Barrick Mining Corporation (NYSE:B) (our second-largest position at the beginning of the quarter) jumped 60% and contributed 3.4% to the portfolio's quarterly return. The gold miners benefited from heightened investor excitement as the underlying bullion price increased 17% in Q3. As we've noted in prior letters, gold miners' stock prices had lagged the increase in gold prices this year, and investors finally seem to be recognizing this disconnect. Despite the strong gains in Barrick's share price, we believe the current stock price still reflects an underlying gold price of $3,000-$3,400 per ounce, which is well below the current spot price of $4,300 per ounce."

Barrick Mining Corporation (NYSE:B) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 53 hedge fund portfolios held Barrick Mining Corporation (NYSE:B) at the end of the second quarter, up from 46 in the previous quarter.  While we acknowledge the potential of Barrick Mining Corporation (NYSE:B) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

In another article, we covered Barrick Mining Corporation (NYSE:B) and shared the list of best NYSE stocks to buy and hold for the next decade. In addition, please check out our hedge fund investor letters Q3 2025 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.