Barrick Mining (NYSE:B) Stock Price Up 4.3% – Still a Buy?

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) were up 4.3% on Tuesday . The company traded as high as $47.75 and last traded at $47.6910. Approximately 18,723,707 shares were traded during trading, an increase of 38% from the average daily volume of 13,580,379 shares. The stock had previously closed at $45.74.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on B shares. Scotiabank raised shares of Barrick Mining from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $27.50 to $43.00 in a research report on Thursday, October 23rd. Royal Bank Of Canada raised their price objective on Barrick Mining from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. BMO Capital Markets restated a “market perform” rating on shares of Barrick Mining in a research note on Monday, September 22nd. Zacks Research upgraded Barrick Mining from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a report on Monday, December 29th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Barrick Mining currently has a consensus rating of “Buy” and an average price target of $47.17.

Barrick Mining Stock Performance

The firm has a market capitalization of $80.30 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 0.30 and a beta of 0.41. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.94 and a quick ratio of 2.33. The stock has a 50-day moving average price of $39.76 and a 200-day moving average price of $31.25.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a return on equity of 9.48% and a net margin of 24.53%.The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter in the prior year, the business posted $0.09 earnings per share. Barrick Mining’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, research analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were given a dividend of $0.175 per share. The ex-dividend date of this dividend was Friday, November 28th. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.5%. Barrick Mining’s dividend payout ratio is 33.82%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Grant Private Wealth Management Inc bought a new stake in shares of Barrick Mining in the 4th quarter worth about $226,000. Hudson Bay Capital Management LP bought a new position in shares of Barrick Mining during the third quarter worth about $783,000. Swiss Life Asset Management Ltd grew its stake in Barrick Mining by 14.2% in the third quarter. Swiss Life Asset Management Ltd now owns 117,682 shares of the gold and copper producer’s stock worth $3,871,000 after purchasing an additional 14,639 shares in the last quarter. Polar Asset Management Partners Inc. bought a new stake in Barrick Mining in the third quarter valued at about $8,324,000. Finally, Strategic Advocates LLC acquired a new stake in Barrick Mining during the third quarter valued at approximately $66,000. 90.82% of the stock is currently owned by institutional investors.

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.