Barrick Mining (NYSE:B) Trading 1.5% Higher – Should You Buy?

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) shot up 1.5% during mid-day trading on Wednesday . The company traded as high as $53.21 and last traded at $52.9780. 20,260,894 shares traded hands during mid-day trading, an increase of 36% from the average session volume of 14,850,892 shares. The stock had previously closed at $52.17.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on B shares. CIBC raised their price target on Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. DZ Bank upgraded Barrick Mining to a “strong-buy” rating in a research report on Monday, January 19th. TD Cowen reiterated a “buy” rating on shares of Barrick Mining in a research report on Wednesday, November 26th. Scotiabank boosted their price objective on shares of Barrick Mining from $43.00 to $63.00 and gave the company an “outperform” rating in a report on Monday. Finally, Raymond James Financial increased 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. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Barrick Mining has a consensus rating of “Buy” and a consensus target price of $48.73.

Barrick Mining Trading Up 1.5%

The business has a 50-day simple moving average of $44.55 and a two-hundred day simple moving average of $34.43. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.33 and a current ratio of 2.94. The stock has a market cap of $88.76 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 0.44 and a beta of 0.41.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings results 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 firm had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.20 billion. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 earnings per share. As a group, research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were issued a dividend of $0.175 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.70 annualized dividend and a yield of 1.3%. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s payout ratio is 33.82%.

Institutional Investors Weigh In On Barrick Mining

Several hedge funds have recently bought and sold shares of B. U S Global Investors Inc. grew its position in Barrick Mining by 211.4% during the fourth quarter. U S Global Investors Inc. now owns 315,000 shares of the gold and copper producer’s stock worth $13,718,000 after buying an additional 213,835 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in Barrick Mining in the fourth quarter valued at about $218,000. OLD National Bancorp IN bought a new stake in Barrick Mining during the fourth quarter worth about $237,000. Teacher Retirement System of Texas acquired a new stake in Barrick Mining during the fourth quarter worth about $30,485,000. Finally, HB Wealth Management LLC bought a new position in Barrick Mining in the 4th quarter valued at about $330,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

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.