Barrick Mining (NYSE:B) Shares Up 2.7% – Time to Buy?

Barrick Mining Corporation (NYSE:B) (TSE:ABX) rose 2.7% during mid-day trading on Monday . The company traded as high as $49.96 and last traded at $49.2530. Approximately 15,305,190 shares traded hands during trading, a decline of 10% from the average daily volume of 17,000,561 shares. The stock had previously closed at $47.96.

Wall Street Analysts Forecast Growth

B has been the topic of a number of research reports. Wall Street Zen upgraded shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. Citigroup upped their target price on Barrick Mining from $38.00 to $48.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Scotiabank lifted their price target on Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Canaccord Genuity Group decreased their price objective on Barrick Mining to $77.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Finally, JPMorgan Chase & Co. began coverage on Barrick Mining in a research report on Thursday, January 29th. They set an “overweight” rating and a $68.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Barrick Mining has a consensus rating of “Moderate Buy” and a consensus target price of $55.25.

Barrick Mining Trading Up 2.7%

The company has a market capitalization of $82.52 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 0.39 and a beta of 0.40. The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average price is $47.11 and its two-hundred day moving average price is $37.73.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.19. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.15 billion. The business’s quarterly revenue was up 44.6% compared to the same quarter last year. On average, equities 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 disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a $0.42 dividend. The ex-dividend date is Friday, February 27th. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.18. This represents a $1.68 dividend on an annualized basis and a yield of 3.4%. Barrick Mining’s dividend payout ratio (DPR) is currently 57.34%.

Hedge Funds Weigh In On Barrick Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bogart Wealth LLC lifted its position in shares of Barrick Mining by 3.5% in the 4th quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer’s stock worth $281,000 after purchasing an additional 218 shares during the period. Parvin Asset Management LLC lifted its holdings in Barrick Mining by 0.7% in the fourth quarter. Parvin Asset Management LLC now owns 33,385 shares of the gold and copper producer’s stock valued at $1,454,000 after buying an additional 225 shares during the period. Mmbg Investment Advisors CO. lifted its holdings in Barrick Mining by 0.6% in the fourth quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer’s stock valued at $1,892,000 after buying an additional 254 shares during the period. S.A. Mason LLC boosted its position in Barrick Mining by 1.3% during the fourth quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer’s stock valued at $1,007,000 after acquiring an additional 300 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in Barrick Mining by 1.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 31,212 shares of the gold and copper producer’s stock worth $1,359,000 after acquiring an additional 302 shares during the period. 90.82% of the stock is owned by institutional investors and hedge funds.

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.