Barrick Mining (NYSE:B) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Barrick Mining (NYSE:B) (TSE:ABX) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday.

Several other research firms have also recently issued reports on B. National Bankshares reiterated an “outperform” rating on shares of Barrick Mining in a report on Wednesday, April 2nd. Royal Bank Of Canada set a $26.00 target price on shares of Barrick Mining and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. National Bank Financial upgraded shares of Barrick Mining to a “hold” rating in a research report on Friday, March 21st. CIBC upped their price target on shares of Barrick Mining from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, June 11th. Finally, BMO Capital Markets began coverage on shares of Barrick Mining in a research report on Wednesday, April 16th. They issued a “market perform” rating for the company. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $24.05.

Barrick Mining Price Performance

NYSE B opened at $21.61 on Friday. Barrick Mining has a 52 week low of $17.41 and a 52 week high of $47.50. The company has a current ratio of 2.87, a quick ratio of 2.16 and a debt-to-equity ratio of 0.14. The stock has a market cap of $37.05 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 0.34 and a beta of 0.28. The company has a 50-day moving average price of $19.79 and a two-hundred day moving average price of $18.46.

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

Barrick Mining Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a yield of 1.85%. Barrick Mining’s payout ratio is 30.08%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC raised its holdings in shares of Barrick Mining by 21.8% during the 1st quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer’s stock valued at $62,000 after purchasing an additional 563 shares in the last quarter. Sapient Capital LLC raised its holdings in shares of Barrick Mining by 0.5% during the 1st quarter. Sapient Capital LLC now owns 114,572 shares of the gold and copper producer’s stock valued at $2,227,000 after purchasing an additional 624 shares in the last quarter. Kestra Private Wealth Services LLC raised its holdings in shares of Barrick Mining by 2.5% during the 1st quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer’s stock valued at $558,000 after purchasing an additional 710 shares in the last quarter. Nicholas Hoffman & Company LLC. raised its holdings in shares of Barrick Mining by 1.5% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer’s stock valued at $924,000 after purchasing an additional 716 shares in the last quarter. Finally, Keystone Financial Group grew its stake in Barrick Mining by 1.4% in the 4th quarter. Keystone Financial Group now owns 56,394 shares of the gold and copper producer’s stock valued at $874,000 after buying an additional 753 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

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.