Barrick Mining (NYSE:B) Shares Up 3.3% – What’s Next?

Barrick Mining Corporation (NYSE:B) (TSE:ABX)’s stock price rose 3.3% during trading on Monday . The company traded as high as $46.72 and last traded at $46.66. Approximately 12,042,066 shares traded hands during trading, a decline of 29% from the average daily volume of 17,032,021 shares. The stock had previously closed at $45.16.

Wall Street Analyst Weigh In

B has been the subject of a number of recent analyst reports. Royal Bank Of Canada raised their price objective 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. Raymond James Financial increased their target price on Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, November 25th. JPMorgan Chase & Co. started coverage on Barrick Mining in a research report on Thursday, January 29th. They issued an “overweight” rating and a $68.00 target price for the company. Wall Street Zen raised Barrick Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Zacks Research lowered Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 13th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.58.

Barrick Mining Trading Up 3.3%

The business has a 50-day moving average of $45.92 and a 200-day moving average of $35.92. The company has a quick ratio of 2.33, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The stock has a market cap of $78.17 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 0.38 and a beta of 0.40.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.19. The company had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.Barrick Mining’s revenue for the quarter was up 44.6% compared to the same quarter last year. As a group, research analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, February 27th. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s dividend payout ratio (DPR) is presently 23.89%.

Hedge Funds Weigh In On Barrick Mining

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. bought a new stake in shares of Barrick Mining during the 2nd quarter worth about $1,459,633,000. Arrowstreet Capital Limited Partnership acquired a new stake in Barrick Mining in the 2nd quarter worth approximately $1,091,122,000. First Eagle Investment Management LLC bought a new stake in Barrick Mining during the second quarter worth approximately $822,056,000. Capital International Investors grew its holdings 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 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 Barrick Mining during the second quarter valued at approximately $386,328,000. 90.82% of the stock is currently owned by institutional investors.

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.