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

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) have been assigned an average recommendation of “Moderate Buy” from the fifteen analysts that are covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $24.05.

B has been the topic of several research analyst reports. Citigroup cut their price objective on Barrick Mining from $21.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, March 31st. Wall Street Zen lowered Barrick Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Raymond James Financial boosted their target price on Barrick Mining from $23.00 to $23.50 and gave the company an “outperform” rating in a research note on Monday, March 31st. Stifel Canada upgraded Barrick Mining to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, National Bank Financial upgraded Barrick Mining to a “hold” rating in a research note on Friday, March 21st.

Hedge Funds Weigh In On Barrick Mining

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its position in Barrick Mining by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer’s stock worth $78,637,000 after buying an additional 128,203 shares in the last quarter. New York State Common Retirement Fund purchased a new position in Barrick Mining during the fourth quarter worth about $2,614,000. Atria Wealth Solutions Inc. grew its position in Barrick Mining by 48.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 33,366 shares of the gold and copper producer’s stock worth $517,000 after buying an additional 10,840 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in Barrick Mining by 66.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 60,620 shares of the gold and copper producer’s stock worth $940,000 after buying an additional 24,176 shares in the last quarter. Finally, RWC Asset Management LLP grew its position in Barrick Mining by 14.4% during the fourth quarter. RWC Asset Management LLP now owns 3,254,263 shares of the gold and copper producer’s stock worth $50,441,000 after buying an additional 409,677 shares in the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Stock Down 0.2%

B stock opened at $21.38 on Wednesday. The stock’s fifty day simple moving average is $19.44 and its two-hundred day simple moving average is $18.03. The company has a current ratio of 2.87, a quick ratio of 2.16 and a debt-to-equity ratio of 0.14. Barrick Mining has a 1-year low of $17.41 and a 1-year high of $47.50. The stock has a market cap of $36.64 billion, a P/E ratio of 16.07, a P/E/G ratio of 0.36 and a beta of 0.27.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The business’s revenue was up 13.9% on a year-over-year basis. Analysts expect that Barrick Mining will post 1.47 EPS for the current year.

Barrick Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.87%. The ex-dividend date was Friday, May 30th. Barrick Mining’s payout ratio is 30.08%.

About Barrick Mining

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.