Barrick Mining Corporation (NYSE:B) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Barrick Mining Corporation (NYSE:B) (TSE:ABX) has earned a consensus rating of “Moderate Buy” from the fifteen research firms that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $33.3333.

A number of research firms recently weighed in on B. Bank of America lifted their price objective on shares of Barrick Mining from $29.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, September 19th. Raymond James Financial lifted their price objective on shares of Barrick Mining from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Royal Bank Of Canada lifted their price objective on shares of Barrick Mining from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. National Bankshares upgraded shares of Barrick Mining to an “outperform” rating in a research report on Monday, September 22nd. Finally, TD Securities lifted their price objective on shares of Barrick Mining from $30.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, September 22nd.

Barrick Mining Stock Performance

Shares of B opened at $32.78 on Friday. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. The firm has a market cap of $55.82 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 0.58 and a beta of 0.28. The company’s 50 day simple moving average is $26.64 and its 200-day simple moving average is $22.15. Barrick Mining has a 12-month low of $15.11 and a 12-month high of $36.10.

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

Barrick Mining Cuts Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. acquired a new position in shares of Barrick Mining during the 2nd quarter worth $1,459,633,000. Arrowstreet Capital Limited Partnership purchased a new stake in Barrick Mining in the 2nd quarter valued at about $1,091,122,000. First Eagle Investment Management LLC purchased a new stake in Barrick Mining in the 2nd quarter valued at about $822,056,000. TD Asset Management Inc purchased a new stake in Barrick Mining in the 2nd quarter valued at about $386,328,000. Finally, Ninety One UK Ltd purchased a new stake in Barrick Mining in the 2nd quarter valued at about $326,862,000. Institutional investors and hedge funds 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.