Barrick Mining (NYSE:B) Hits New 12-Month High After Analyst Upgrade

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) reached a new 52-week high during trading on Tuesday after National Bankshares upgraded the stock to an outperform rating. The company traded as high as $35.70 and last traded at $35.37, with a volume of 51681822 shares trading hands. The stock had previously closed at $32.99.

B has been the subject of a number of other research reports. BMO Capital Markets reiterated a “market perform” rating on shares of Barrick Mining in a report on Monday. UBS Group increased their price objective on shares of Barrick Mining from $26.00 to $35.00 and gave the company a “buy” rating in a report on Friday, September 19th. Scotiabank raised their price target on shares of Barrick Mining from $25.00 to $26.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 13th. Zacks Research downgraded shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Finally, National Bank Financial upgraded shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.33.

Institutional Trading of Barrick Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Penserra Capital Management LLC boosted its position in shares of Barrick Mining by 1,919.0% during the 1st quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer’s stock worth $56,000 after purchasing an additional 2,821 shares during the period. Hedges Asset Management LLC purchased a new position in shares of Barrick Mining during the 2nd quarter worth approximately $1,249,000. Chemistry Wealth Management LLC purchased a new position in shares of Barrick Mining during the 2nd quarter worth approximately $246,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Barrick Mining by 14.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer’s stock worth $1,141,000 after purchasing an additional 9,149 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Barrick Mining by 24.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer’s stock worth $404,000 after purchasing an additional 4,082 shares during the period. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Price Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. The stock has a market cap of $57.23 billion, a PE ratio of 21.14, a PEG ratio of 0.61 and a beta of 0.28. The stock’s 50-day moving average is $25.64 and its two-hundred day moving average is $21.71.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.60 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the company posted $0.32 EPS. On average, equities analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.8%. Barrick Mining’s dividend payout ratio (DPR) is presently 37.74%.

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.