Improved Investor Sentiment Boosted Barrick Mining Corporation by 60% in Q3
Pelican Bay Capital Management (PBCM), an investment management firm, released its third-quarter 2025 investor letter. The PBCM Concentrated Value Strategy achieved a 7.8% return for the quarter, outperforming the Russell 1000 Value Index's 5.3% return. Year-to-date, the fund returned 11.2%, slightly below the index's 11.6%.
Fund Performance and Holdings
In the letter, PBCM highlighted some of its top stocks in 2025, including Barrick Mining Corporation (NYSE: B), a company focused on exploration, development, production, and sale of mineral properties.
Barrick Mining Corporation Stock Overview
- One-month return: -0.58%
- 52-week share price gain: 76.90%
- Closing price (November 6, 2025): $32.55 per share
- Market capitalization: $55.557 billion
Contribution to Portfolio
"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."
Barrick Mining Corporation's strong performance significantly boosted the fund's results during the quarter.
Summary: Pelican Bay Capital Management's focus on gold miners like Barrick Mining Corporation helped drive a 7.8% quarterly fund return, with Barrick's 60% gain playing a key role in outperforming the Russell 1000 Value Index.