Barrick Mining (NYSE:B) Upgraded at BNP Paribas Exane

Barrick Mining (NYSE:B) (TSE:ABX) was upgraded by investment analysts at BNP Paribas Exane from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Friday,Finviz reports. The firm presently has a $50.00 price objective on the gold and copper producer’s stock. BNP Paribas Exane’s price target suggests a potential upside of 22.25% from the company’s current price.

Several other research analysts have also issued reports on the stock. Raymond James Financial raised their price target on shares of Barrick Mining from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, November 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a research report on Monday. Sanford C. Bernstein reissued an “outperform” rating on shares of Barrick Mining in a research note on Wednesday, September 24th. BNP Paribas raised shares of Barrick Mining to a “neutral” rating and set a $50.00 price target on the stock in a research report on Friday. Finally, Zacks Research downgraded Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.45.

Barrick Mining Trading Up 1.0%

NYSE B opened at $40.90 on Friday. The business’s 50-day moving average price is $35.20 and its two-hundred day moving average price is $27.46. Barrick Mining has a 12 month low of $15.11 and a 12 month high of $43.08. The firm has a market capitalization of $69.02 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 0.42 and a beta of 0.40. The company has a current ratio of 2.94, a quick ratio of 2.33 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.20 billion. Barrick Mining had a return on equity of 9.48% and a net margin of 24.53%.The firm’s revenue was up 23.2% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. On average, analysts expect that Barrick Mining will post 1.47 EPS for the current year.

Hedge Funds Weigh In On Barrick Mining

Several institutional investors have recently made changes to their positions in B. Harbour Investments Inc. grew its stake in shares of Barrick Mining by 298.8% in the 1st quarter. Harbour Investments Inc. now owns 8,611 shares of the gold and copper producer’s stock valued at $167,000 after buying an additional 6,452 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Barrick Mining by 32.4% in the first quarter. PNC Financial Services Group Inc. now owns 25,426 shares of the gold and copper producer’s stock worth $494,000 after acquiring an additional 6,228 shares in the last quarter. Cary Street Partners Investment Advisory LLC bought a new position in Barrick Mining in the first quarter worth approximately $32,000. Vanguard Group Inc. grew its stake in Barrick Mining by 0.7% in the first quarter. Vanguard Group Inc. now owns 68,861,295 shares of the gold and copper producer’s stock valued at $1,337,012,000 after acquiring an additional 502,762 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Barrick Mining by 1.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,144,340 shares of the gold and copper producer’s stock valued at $99,867,000 after acquiring an additional 70,623 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Company Profile

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.