Barrick Mining Corporation (NYSE:B) to Issue Quarterly Dividend of $0.42

Barrick Mining Corporation (NYSE:B) (TSE:ABX) announced a quarterly dividend on Thursday, February 5th. Stockholders of record on Friday, February 27th will be given a dividend of 0.42 per share by the gold and copper producer on Monday, March 16th. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, February 27th. This is a 140.0% increase from Barrick Mining’s previous quarterly dividend of $0.18.

Barrick Mining has increased its dividend by an average of 0.2%per year over the last three years. Barrick Mining has a dividend payout ratio of 31.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Barrick Mining to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 45.2%.

Barrick Mining Stock Performance

Shares of NYSE B traded down $3.56 during mid-day trading on Thursday, hitting $43.80. 26,724,188 shares of the company were exchanged, compared to its average volume of 17,357,674. The stock has a 50 day simple moving average of $45.80 and a 200-day simple moving average of $35.50. Barrick Mining has a 1-year low of $16.92 and a 1-year high of $54.69. 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 cap of $73.37 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 0.39 and a beta of 0.40.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.15. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. Barrick Mining’s revenue for the quarter was up 44.6% compared to the same quarter last year. On average, sell-side analysts forecast that Barrick Mining will post 1.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on B. JPMorgan Chase & Co. assumed coverage on shares of Barrick Mining in a report on Thursday, January 29th. They set an “overweight” rating and a $68.00 price target for the company. Bank of America upgraded Barrick Mining from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $38.00 to $48.00 in a research report on Monday, November 24th. Canaccord Genuity Group raised their price target on Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a research note on Monday, December 29th. Finally, Zacks Research downgraded Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 13th. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Barrick Mining presently has an average rating of “Buy” and a consensus price target of $53.08.

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.