Barrick Mining Corporation (NYSE:B) Receives $54.17 Average Target Price from Brokerages

Barrick Mining Corporation (NYSE:B) (TSE:ABX) has earned a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $54.50.

Several equities analysts recently commented on the company. DZ Bank upgraded Barrick Mining to a “strong-buy” rating in a research note on Monday, January 19th. JPMorgan Chase & Co. assumed coverage on Barrick Mining in a research note on Thursday, January 29th. They issued an “overweight” rating and a $68.00 price objective on the stock. Canadian Imperial Bank of Commerce dropped their price objective on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research note on Tuesday, April 21st. Weiss Ratings downgraded Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday. Finally, Scotiabank increased their target price on Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th.

Barrick Mining Price Performance

Barrick Mining stock opened at $40.60 on Friday. Barrick Mining has a 12 month low of $17.41 and a 12 month high of $54.69. The company has a current ratio of 3.06, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13. The business’s 50 day simple moving average is $41.77 and its 200 day simple moving average is $42.98. The company has a market cap of $68.02 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 1.26 and a beta of 0.41.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating the consensus estimate of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.75 billion. The company’s revenue was up 66.7% on a year-over-year basis. Sell-side analysts forecast that Barrick Mining will post 3.62 EPS for the current year.

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be given a dividend of $0.175 per share. The ex-dividend date is Friday, May 29th. This represents a $0.70 annualized dividend and a dividend yield of 1.7%. Barrick Mining’s dividend payout ratio is currently 19.34%.

Institutional Investors Weigh In On Barrick Mining

Several institutional investors have recently made changes to their positions in the stock. Capital International Investors lifted its position in shares of 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 in the last quarter. Vanguard Group Inc. lifted its position in shares of Barrick Mining by 1.1% during the third quarter. Vanguard Group Inc. now owns 70,878,168 shares of the gold and copper producer’s stock worth $2,327,991,000 after acquiring an additional 767,544 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Barrick Mining by 22.8% during the fourth quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock worth $2,413,699,000 after acquiring an additional 10,287,544 shares in the last quarter. FIL Ltd lifted its position in shares of Barrick Mining by 85.3% during the fourth quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock worth $1,311,169,000 after acquiring an additional 13,853,587 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of Barrick Mining by 61.9% during the fourth quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer’s stock worth $909,104,000 after acquiring an additional 7,870,411 shares in the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

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.