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

Barrick Mining Corporation (NYSE:BGet Free Report) (TSE:ABX) has earned an average recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $41.00.

A number of brokerages recently issued reports on B. Sanford C. Bernstein restated an “outperform” rating on shares of Barrick Mining in a research report on Wednesday, September 24th. Citigroup increased their target price on Barrick Mining from $21.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. TD Securities increased their target price on Barrick Mining from $38.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. BMO Capital Markets reiterated a “market perform” rating on shares of Barrick Mining in a research note on Monday, September 22nd. Finally, Cibc World Mkts upgraded Barrick Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th.

Read Our Latest Research Report on Barrick Mining

Hedge Funds Weigh In On Barrick Mining

Institutional investors have recently made changes to their positions in the company. Penserra Capital Management LLC increased its stake in shares of Barrick Mining by 1,919.0% during the first quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer’s stock valued at $56,000 after buying an additional 2,821 shares during the period. Hedges Asset Management LLC purchased a new position in shares of Barrick Mining during the second quarter valued at $1,249,000. Chemistry Wealth Management LLC bought a new stake in Barrick Mining during the second quarter valued at about $246,000. Sequoia Financial Advisors LLC boosted its position in Barrick Mining by 24.4% during the first quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer’s stock valued at $404,000 after purchasing an additional 4,082 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Barrick Mining by 25.9% during the first quarter. Janney Montgomery Scott LLC now owns 291,281 shares of the gold and copper producer’s stock valued at $5,663,000 after purchasing an additional 59,906 shares in the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Up 4.3%

Shares of B opened at $34.75 on Tuesday. The company has a market cap of $59.18 billion, a PE ratio of 21.86, a P/E/G ratio of 0.42 and a beta of 0.30. The business has a fifty day moving average of $29.95 and a 200 day moving average of $23.61. Barrick Mining has a 52-week low of $15.11 and a 52-week high of $36.40. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:BGet Free Report) (TSE:ABX) last issued its quarterly 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. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.Barrick Mining’s revenue was up 16.4% on a year-over-year basis. During the same period last year, the company earned $0.32 earnings per share. On average, sell-side analysts expect 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 paid a $0.15 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a yield of 1.7%. Barrick Mining’s dividend payout ratio (DPR) is presently 37.74%.

About Barrick Mining

(Get Free Report)

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.

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Analyst Recommendations for Barrick Mining (NYSE:B)

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