Analysts Set Barrick Mining Corporation (NYSE:B) Price Target at $53.46

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) have been given a consensus rating of “Moderate Buy” by the twenty-two analysts that are currently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $53.1538.

Several research firms have commented on B. ATB Cormark Capital Markets lowered shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. UBS Group dropped their price target on shares of Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Barclays started coverage on shares of Barrick Mining in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price objective on the stock. Weiss Ratings lowered Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Finally, Canadian Imperial Bank of Commerce reduced their price target on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a report on Tuesday, April 21st.

Barrick Mining Trading Up 0.0%

Shares of B stock opened at $38.22 on Friday. The company has a market cap of $63.57 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 1.09 and a beta of 0.48. Barrick Mining has a 1 year low of $20.52 and a 1 year high of $54.69. The stock’s 50 day simple moving average is $40.47 and its two-hundred day simple moving average is $43.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.75 billion. The business’s revenue for the quarter was up 66.7% on a year-over-year basis. Research analysts predict that Barrick Mining will post 3.78 earnings per share for the current year.

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a dividend of $0.175 per share. The ex-dividend date was Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a yield of 1.8%. Barrick Mining’s payout ratio is presently 19.34%.

Institutional Trading of Barrick Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bogart Wealth LLC boosted its stake in shares of Barrick Mining by 3.5% during the fourth quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer’s stock valued at $281,000 after purchasing an additional 218 shares during the period. Parvin Asset Management LLC increased its stake in Barrick Mining by 0.7% in the 4th quarter. Parvin Asset Management LLC now owns 33,385 shares of the gold and copper producer’s stock worth $1,454,000 after buying an additional 225 shares during the period. Silver Oak Securities Incorporated increased its stake in Barrick Mining by 2.9% in the 1st quarter. Silver Oak Securities Incorporated now owns 8,810 shares of the gold and copper producer’s stock worth $359,000 after buying an additional 246 shares during the period. Mmbg Investment Advisors CO. lifted its holdings in Barrick Mining by 0.6% during the 4th quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer’s stock valued at $1,892,000 after buying an additional 254 shares in the last quarter. Finally, S.A. Mason LLC lifted its holdings in Barrick Mining by 1.3% during the 4th quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer’s stock valued at $1,007,000 after buying an additional 300 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.