Barrick Mining (NYSE:B) Stock Price Down 3% – Here’s What Happened

Barrick Mining Corporation (NYSE:B) (TSE:ABX)’s share price traded down 3% on Thursday . The stock traded as low as $44.38 and last traded at $45.35. 13,117,109 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 16,470,990 shares. The stock had previously closed at $46.77.

Analysts Set New Price Targets

Several research analysts recently issued reports on B shares. TD Cowen reaffirmed a “buy” rating on shares of Barrick Mining in a research report on Wednesday, November 26th. Bank of America raised Barrick Mining from a “neutral” rating to a “buy” rating and increased their price target for the company from $38.00 to $48.00 in a research note on Monday, November 24th. 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. Zacks Research cut Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $71.00 target price on shares of Barrick Mining in a research report on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Barrick Mining currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.25.

Barrick Mining Stock Performance

The company has a market capitalization of $75.98 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 1.45 and a beta of 0.41. The company has a 50 day moving average price of $47.88 and a 200 day moving average price of $39.07. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.33 and a current ratio of 2.92.

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. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The business had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $5.15 billion. Barrick Mining’s revenue for the quarter was up 44.6% on a year-over-year basis. Equities research analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, February 27th. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s payout ratio is 57.34%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. bought a new position in Barrick Mining in the 2nd quarter valued at about $1,459,633,000. Measured Wealth Private Client Group LLC bought a new stake in Barrick Mining during the 2nd quarter worth approximately $696,000. Philadelphia Trust Co. purchased a new stake in shares of Barrick Mining in the second quarter worth approximately $1,412,000. CIBC Asset Management Inc lifted its holdings in shares of Barrick Mining by 316.0% in the third quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer’s stock valued at $601,115,000 after purchasing an additional 13,891,886 shares in the last quarter. Finally, Cadence Wealth Management LLC bought a new position in shares of Barrick Mining in the second quarter valued at approximately $1,112,000. Institutional investors and hedge funds 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.