Barrick Mining Corporation (B) – What Are Brokerages Thinking About This Stock?

Barrick Mining Corporation (NYSE:B) (TSE:ABX) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are presently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $52.59.

A number of research analysts recently issued reports on the stock. TD set a $59.00 target price on shares of Barrick Mining and gave the company a “buy” rating in a research note on Wednesday, September 16th. Royal Bank Of Canada raised their target price on Barrick Mining from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Bank of America reduced their price objective on Barrick Mining from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Freedom Broker downgraded shares of Barrick Mining from a “buy” rating to a “hold” rating and reduced their price target for the company from $54.00 to $46.00 in a report on Thursday, October 22nd. Finally, Canadian Imperial Bank of Commerce downgraded shares of Barrick Mining from a “sector outperform” rating to a “neutral” rating and dropped their price objective for the stock from $57.00 to $49.00 in a report on Friday, October 16th.

Institutional Investors Weigh In On Barrick Mining

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Caldwell Trust Co boosted its position in shares of Barrick Mining by 18.7% in the 3rd quarter. Caldwell Trust Co now owns 37,346 shares of the gold and copper producer’s stock worth $1,519,000 after purchasing an additional 5,873 shares during the last quarter. Provenance Wealth Advisors LLC increased its stake in shares of Barrick Mining by 243.4% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 3,176 shares of the gold and copper producer’s stock valued at $129,000 after acquiring an additional 2,251 shares during the last quarter. Next Level Wealth Planning LLC acquired a new stake in shares of Barrick Mining in the 3rd quarter valued at approximately $57,000. Greenfield Seitz Capital Management LLC boosted its stake in Barrick Mining by 2.9% during the 3rd quarter. Greenfield Seitz Capital Management LLC now owns 286,911 shares of the gold and copper producer’s stock worth $11,669,000 after acquiring an additional 8,027 shares during the last quarter. Finally, McAlvany Wealth Management LLC boosted its stake in Barrick Mining by 10.3% during the 3rd quarter. McAlvany Wealth Management LLC now owns 66,729 shares of the gold and copper producer’s stock worth $2,714,000 after acquiring an additional 6,228 shares during the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Barrick Mining Stock Performance

B opened at $36.99 on Friday. The stock has a 50-day moving average of $42.18 and a 200-day moving average of $42.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.36 and a current ratio of 3.01. Barrick Mining has a 52-week low of $31.61 and a 52-week high of $54.69. The company has a market cap of $60.47 billion, a PE ratio of 9.53, a price-to-earnings-growth ratio of 1.20 and a beta of 0.48.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.01. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same period in the previous year, the company earned $0.47 EPS. The company’s revenue for the quarter was up 43.8% on a year-over-year basis. As a group, equities research analysts forecast that Barrick Mining will post 3.49 earnings per share for the current fiscal year.

Barrick Mining Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were given a dividend of $0.1750 per share. The ex-dividend date was Monday, August 31st. 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 18.04%.

About Barrick Mining

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the exploration, development and production of gold and copper. Its activities include operating mines, advancing development projects and managing mineral reserves across multiple jurisdictions.

The company’s gold operations include Nevada Gold Mines in the United States, a joint venture in which Barrick is the operator, as well as mines and projects in Canada, the Dominican Republic, Mali, Côte d’Ivoire, Tanzania and the Democratic Republic of the Congo.