Barrick Mining (NYSE:B) Trading Down 5.9% – Time to Sell?

Barrick Mining Corporation (NYSE:B) (TSE:ABX)’s share price dropped 5.9% on Tuesday . The company traded as low as $40.41 and last traded at $40.4420. Approximately 11,803,573 shares were traded during trading, a decline of 21% from the average daily volume of 15,010,452 shares. The stock had previously closed at $42.96.

Analyst Upgrades and Downgrades

B has been the subject of a number of recent research reports. Canadian Imperial Bank of Commerce decreased their price objective on Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research report on Tuesday. Weiss Ratings reissued a “buy (b)” rating on shares of Barrick Mining in a report on Friday, March 27th. DZ Bank raised Barrick Mining to a “strong-buy” rating in a report on Monday, January 19th. Zacks Research cut Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. Finally, Canaccord Genuity Group reduced their price target on Barrick Mining to $77.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Barrick Mining currently has an average rating of “Moderate Buy” and a consensus target price of $54.17.

Barrick Mining Stock Performance

The stock has a 50-day simple moving average of $43.78 and a 200 day simple moving average of $42.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 2.33. The company has a market capitalization of $67.35 billion, a PE ratio of 13.72, a P/E/G ratio of 1.51 and a beta of 0.50.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.19. The company had revenue of $5.98 billion for 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%.The firm’s revenue was up 44.6% on a year-over-year basis. Equities analysts anticipate that Barrick Mining Corporation will post 3.61 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were given a dividend of $0.42 per share. The ex-dividend date was Friday, February 27th. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.18. This represents a $1.68 dividend on an annualized basis and a yield of 4.2%. Barrick Mining’s dividend payout ratio (DPR) is presently 57.34%.

Institutional Trading of Barrick Mining

A number of institutional investors have recently bought and sold shares of B. CW Advisors LLC acquired a new position in shares of Barrick Mining in the second quarter worth $283,000. EverSource Wealth Advisors LLC acquired a new position in shares of Barrick Mining in the second quarter worth $53,000. First Trust Advisors LP acquired a new position in shares of Barrick Mining in the second quarter worth $857,000. Baird Financial Group Inc. acquired a new position in shares of Barrick Mining in the second quarter worth $2,569,000. Finally, Cresset Asset Management LLC acquired a new position in shares of Barrick Mining in the second quarter worth $543,000. 90.82% of the stock is currently owned by hedge funds and other 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.