Barrick Mining Corporation (NYSE:B) Given Consensus Rating of “Moderate Buy” by Brokerages

Barrick Mining Corporation (NYSE:B) (TSE:ABX) has earned an average recommendation of “Moderate Buy” from the twenty-two brokerages that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $52.4615.

Several analysts have weighed in on B shares. UBS Group decreased their price objective on shares of Barrick Mining from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. JPMorgan Chase & Co. cut their target price on shares of Barrick Mining from $58.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. ATB Cormark Capital Markets downgraded Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Bank of America decreased their price target on Barrick Mining from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, Weiss Ratings cut Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th.

Barrick Mining Price Performance

Shares of NYSE:B opened at $37.34 on Thursday. Barrick Mining has a 1-year low of $20.94 and a 1-year high of $54.69. The firm has a market capitalization of $62.10 billion, a PE ratio of 10.31, a PEG ratio of 0.79 and a beta of 0.48. The business’s 50 day moving average is $38.79 and its 200-day moving average is $42.66. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.18. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. Barrick Mining’s revenue for the quarter was up 66.7% on a year-over-year basis. Sell-side analysts predict that Barrick Mining will post 3.56 earnings per share for the current year.

Barrick Mining Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $0.175 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.9%. Barrick Mining’s dividend payout ratio (DPR) is currently 19.34%.

Institutional Trading of Barrick Mining

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CW Advisors LLC bought a new stake in shares of Barrick Mining during the second quarter worth approximately $283,000. EverSource Wealth Advisors LLC bought a new position in Barrick Mining in the second quarter valued at approximately $53,000. First Trust Advisors LP bought a new position in Barrick Mining in the second quarter valued at approximately $857,000. Baird Financial Group Inc. acquired a new stake in Barrick Mining during the 2nd quarter worth $2,569,000. Finally, Cresset Asset Management LLC acquired a new stake in Barrick Mining during the 2nd quarter worth $543,000. 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.