Barrick Mining (NYSE:B) Stock Rating Lowered by Zacks Research

Barrick Mining (NYSE:B) (TSE:ABX) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Jefferies Financial Group restated a “buy” rating and issued a $55.00 price objective on shares of Barrick Mining in a research report on Sunday, December 7th. Wall Street Zen cut Barrick Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Sanford C. Bernstein reiterated an “outperform” rating on shares of Barrick Mining in a report on Wednesday, September 24th. Raymond James Financial raised their target price 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. Finally, Canaccord Genuity Group lifted their price target on shares of Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Barrick Mining currently has an average rating of “Moderate Buy” and a consensus price target of $47.17.

Barrick Mining Trading Up 0.4%

NYSE B opened at $49.93 on Tuesday. Barrick Mining has a 12 month low of $15.47 and a 12 month high of $50.51. The stock has a 50-day simple moving average of $42.00 and a 200 day simple moving average of $32.53. The company has a current ratio of 2.94, a quick ratio of 2.33 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $84.06 billion, a PE ratio of 24.12, a P/E/G ratio of 0.42 and a beta of 0.41.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of B. Capital International Investors boosted its position in shares of Barrick Mining by 35.9% during the third quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock valued at $3,340,709,000 after buying an additional 26,921,219 shares during the last quarter. Vanguard Group Inc. lifted its stake in Barrick Mining by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 70,878,168 shares of the gold and copper producer’s stock valued at $2,327,991,000 after acquiring an additional 767,544 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Barrick Mining during the 2nd quarter valued at $1,091,122,000. First Eagle Investment Management LLC purchased a new position in Barrick Mining during the 2nd quarter worth $822,056,000. Finally, TD Asset Management Inc grew its stake in shares of Barrick Mining by 3.8% in the 3rd quarter. TD Asset Management Inc now owns 19,309,335 shares of the gold and copper producer’s stock worth $634,346,000 after acquiring an additional 715,151 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, 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.