Barrick Mining (NYSE:B) Shares Up 1.7% – Should You Buy?

Barrick Mining Corporation (NYSE:B) (TSE:ABX)’s stock price rose 1.7% on Tuesday . The stock traded as high as $52.18 and last traded at $52.16. Approximately 14,825,124 shares changed hands during mid-day trading, an increase of 1% from the average daily volume of 14,615,344 shares. The stock had previously closed at $51.29.

Analysts Set New Price Targets

B has been the subject of a number of research reports. CIBC raised their price target on shares of Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Canaccord Genuity Group boosted their target price on Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Royal Bank Of Canada increased their price target on Barrick Mining from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 target price on shares of Barrick Mining in a research report on Sunday, December 7th. Finally, Raymond James Financial lifted their price target on shares of Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, November 25th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $48.73.

Barrick Mining Trading Up 1.7%

The company has a quick ratio of 2.33, a current ratio of 2.94 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average price of $44.27 and a 200 day moving average price of $34.22. The stock has a market capitalization of $87.39 billion, a PE ratio of 25.20, a P/E/G ratio of 0.44 and a beta of 0.41.

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

Barrick Mining Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were issued a dividend of $0.175 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.70 dividend on an annualized basis and a yield of 1.3%. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s payout ratio is presently 33.82%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Capital International Investors grew its position in Barrick Mining by 35.9% in the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock worth $3,340,709,000 after purchasing an additional 26,921,219 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Barrick Mining by 1.1% in the third quarter. Vanguard Group Inc. now owns 70,878,168 shares of the gold and copper producer’s stock valued at $2,327,991,000 after acquiring an additional 767,544 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Barrick Mining in the second quarter valued at approximately $1,091,122,000. First Eagle Investment Management LLC purchased a new stake in shares of Barrick Mining during the second quarter valued at approximately $822,056,000. Finally, TD Asset Management Inc lifted its holdings in Barrick Mining by 3.8% during the third quarter. TD Asset Management Inc now owns 19,309,335 shares of the gold and copper producer’s stock worth $634,346,000 after acquiring an additional 715,151 shares during the period. 90.82% of the stock is 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.