Barrick Mining (NYSE:B) Shares Up 2.7% – Time to Buy?

Barrick Mining Corporation (NYSE:B) (TSE:ABX) shares traded up 2.7% during mid-day trading on Monday . The company traded as high as $49.74 and last traded at $49.0950. 13,643,707 shares were traded during trading, an increase of 0% from the average session volume of 13,576,119 shares. The stock had previously closed at $47.81.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on B shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Barrick Mining in a research note on Monday, December 29th. Raymond James Financial increased their price target on shares of Barrick Mining from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, November 25th. Cormark raised shares of Barrick Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 11th. National Bank Financial upgraded shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 22nd. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Barrick Mining in a research note on Wednesday, September 24th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $47.17.

Barrick Mining Trading Up 2.7%

The firm’s 50-day simple moving average is $41.29 and its 200-day simple moving average is $32.20. The firm has a market capitalization of $82.66 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 0.40 and a beta of 0.41. The company has a quick ratio of 2.33, a current ratio of 2.94 and a debt-to-equity ratio of 0.14.

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

Barrick Mining Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were given a $0.175 dividend. The ex-dividend date was Friday, November 28th. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a yield of 1.4%. Barrick Mining’s dividend payout ratio is presently 33.82%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. purchased a new position in shares of Barrick Mining during the 2nd quarter valued at $1,459,633,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Barrick Mining in the second quarter valued at about $696,000. Philadelphia Trust Co. purchased a new position in shares of Barrick Mining in the second quarter valued at about $1,412,000. Cadence Wealth Management LLC bought a new position in shares of Barrick Mining in the second quarter worth about $1,112,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Barrick Mining during the second quarter worth about $30,641,000. 90.82% of the stock is owned by hedge funds and other 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.