Barrick Mining (NYSE:B) Shares Up 2.4% – Should You Buy?

Barrick Mining Corporation (NYSE:B) (TSE:ABX)’s share price rose 2.4% during mid-day trading on Tuesday . The stock traded as high as $49.51 and last traded at $47.5460. Approximately 23,788,568 shares were traded during trading, an increase of 41% from the average daily volume of 16,827,770 shares. The stock had previously closed at $46.43.

Analyst Upgrades and Downgrades

A number of research firms recently commented on B. TD Cowen restated a “buy” rating on shares of Barrick Mining in a report on Wednesday, November 26th. Citigroup raised shares of Barrick Mining from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Royal Bank Of Canada increased their price target on shares of Barrick Mining from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. DZ Bank raised shares of Barrick Mining to a “strong-buy” rating in a research note on Monday, January 19th. Finally, Scotiabank upped their price objective on shares of Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $51.33.

Barrick Mining Trading Up 2.4%

The company’s fifty day moving average is $45.50 and its 200-day moving average is $35.23. The company has a current ratio of 2.94, a quick ratio of 2.33 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $79.66 billion, a P/E ratio of 22.97, a P/E/G ratio of 0.40 and a beta of 0.40.

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

Barrick Mining Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 1.5%. The ex-dividend date was Friday, November 28th. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s dividend payout ratio is currently 33.82%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Capital International Investors increased its position in Barrick Mining by 35.9% during the third quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock worth $3,340,709,000 after acquiring an additional 26,921,219 shares during the period. Vanguard Group Inc. boosted its holdings in Barrick Mining by 1.1% in the 3rd 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 purchasing an additional 767,544 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Barrick Mining in the 2nd quarter worth $1,091,122,000. First Eagle Investment Management LLC bought a new position in shares of Barrick Mining during the 2nd quarter worth about $822,056,000. Finally, TD Asset Management Inc raised its position in shares of 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 valued at $634,346,000 after buying an additional 715,151 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

About Barrick Mining

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.