Barrick Mining (NYSE:B) Shares Gap Down – Here’s Why

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) gapped down prior to trading on Monday . The stock had previously closed at $46.21, but opened at $43.74. Barrick Mining shares last traded at $43.6020, with a volume of 2,999,094 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. UBS Group raised their target price on shares of Barrick Mining from $39.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Bank of America upgraded shares of Barrick Mining from a “neutral” rating to a “buy” rating and raised their price objective for the company from $38.00 to $48.00 in a research note on Monday, November 24th. BMO Capital Markets reissued a “market perform” rating on shares of Barrick Mining in a report on Monday, September 22nd. Jefferies Financial Group restated a “buy” rating and issued a $55.00 target price on shares of Barrick Mining in a research report on Sunday, December 7th. Finally, TD Securities lifted their price target on Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $47.17.

Barrick Mining Stock Down 4.1%

The company has a debt-to-equity ratio of 0.14, a current ratio of 2.94 and a quick ratio of 2.33. The stock has a market capitalization of $74.58 billion, a P/E ratio of 21.40, a PEG ratio of 0.47 and a beta of 0.40. The stock’s fifty day moving average is $38.34 and its two-hundred day moving average is $30.28.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Monday, November 10th. The gold and copper producer reported $0.58 EPS for the quarter, beating 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 company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 EPS. As a group, research analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a $0.175 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.70 dividend on an annualized basis and a yield of 1.6%. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s dividend payout ratio (DPR) is 33.82%.

Institutional Trading of Barrick Mining

Hedge funds have recently bought and sold shares of the company. Vermillion Wealth Management Inc. purchased a new stake in shares of Barrick Mining in the 2nd quarter valued at approximately $25,000. Crowley Wealth Management Inc. purchased a new position in Barrick Mining during the 2nd quarter worth approximately $26,000. Concord Wealth Partners acquired a new stake in Barrick Mining during the 2nd quarter valued at $26,000. Arlington Trust Co LLC acquired a new stake in shares of Barrick Mining in the third quarter worth $26,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Barrick Mining in the second quarter worth $27,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

About Barrick Mining

Barrick Gold Corporation, commonly known as Barrick, is a Toronto‑headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large‑scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.

The company’s activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.