Barrick Mining (NYSE:B) Reaches New 52-Week High – Here’s What Happened

Barrick Mining Corporation (NYSE:B) (TSE:ABX)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $53.29 and last traded at $51.29, with a volume of 19195398 shares. The stock had previously closed at $51.08.

Wall Street Analyst Weigh In

Several research firms have recently commented on B. Jefferies Financial Group restated a “buy” rating and issued a $55.00 price target on shares of Barrick Mining in a report on Sunday, December 7th. Wall Street Zen downgraded shares of Barrick Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. DZ Bank raised Barrick Mining to a “strong-buy” rating in a research report on Monday, January 19th. TD Cowen reiterated a “buy” rating on shares of Barrick Mining in a report on Wednesday, November 26th. Finally, Raymond James Financial upped their price objective on Barrick Mining from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. Three 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 stock. Based on data from MarketBeat.com, Barrick Mining currently has an average rating of “Buy” and a consensus target price of $48.73.

Barrick Mining Stock Performance

The business has a 50-day moving average price of $44.86 and a 200-day moving average price of $34.56. 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 market capitalization of $88.76 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 0.47 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 for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.20 billion. During the same period in the previous year, the business earned $0.09 EPS. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, sell-side analysts forecast 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. Investors of record on Friday, November 28th were given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.3%. 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. Barrick Mining’s payout ratio is 33.82%.

Institutional Trading of Barrick Mining

Several large investors have recently bought and sold shares of B. Vanguard Group Inc. acquired a new stake in shares of Barrick Mining during the second quarter worth $1,459,633,000. Arrowstreet Capital Limited Partnership acquired a new stake in Barrick Mining during the 2nd quarter worth about $1,091,122,000. First Eagle Investment Management LLC acquired a new stake in Barrick Mining during the 2nd quarter worth about $822,056,000. Capital International Investors grew its stake in Barrick Mining by 35.9% during the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock valued at $3,340,709,000 after purchasing an additional 26,921,219 shares during the last quarter. Finally, TD Asset Management Inc acquired a new position in shares of Barrick Mining in the second quarter valued at about $386,328,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

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.