Barrick Mining Corporation (NYSE:B) Receives $52.63 Average Price Target from Brokerages

Barrick Mining Corporation (NYSE:B) (TSE:ABX) has earned a consensus rating of “Moderate Buy” from the twenty-three research firms that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $52.90.

Several research analysts have weighed in on the stock. Sanford C. Bernstein dropped their price objective on shares of Barrick Mining from $61.00 to $56.50 and set an “outperform” rating on the stock in a research note on Wednesday, September 9th. TD set a $59.00 price target on shares of Barrick Mining and gave the stock a “buy” rating in a research note on Wednesday. UBS Group cut their price objective on Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Royal Bank Of Canada lifted their price objective on Barrick Mining from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Barrick Mining in a research note on Friday, August 7th.

Hedge Funds Weigh In On Barrick Mining

A number of hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its position in shares of Barrick Mining by 22.8% in the fourth quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock valued at $2,413,699,000 after purchasing an additional 10,287,544 shares during the last quarter. Employees Provident Fund Board bought a new stake in Barrick Mining during the 4th quarter valued at approximately $221,664,000. Renaissance Technologies LLC boosted its stake in Barrick Mining by 335.8% during the 1st quarter. Renaissance Technologies LLC now owns 5,476,478 shares of the gold and copper producer’s stock valued at $223,386,000 after purchasing an additional 4,219,700 shares during the period. Royal Bank of Canada grew its holdings in Barrick Mining by 10.9% in the 1st quarter. Royal Bank of Canada now owns 39,598,520 shares of the gold and copper producer’s stock valued at $1,615,225,000 after buying an additional 3,881,841 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Barrick Mining in the 2nd quarter valued at approximately $117,374,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Trading Up 2.8%

NYSE:B opened at $43.75 on Friday. The stock has a market cap of $72.01 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.24 and a beta of 0.51. Barrick Mining has a fifty-two week low of $29.08 and a fifty-two week high of $54.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.36. The stock’s 50-day moving average is $41.29 and its two-hundred day moving average is $41.14.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The business had revenue of $4.19 billion during the quarter, compared to analyst estimates of $5.10 billion. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. The firm’s revenue was up 43.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. As a group, equities research analysts forecast that Barrick Mining will post 3.48 earnings per share for the current fiscal year.

Barrick Mining Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were paid a dividend of $0.175 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.6%. Barrick Mining’s dividend payout ratio (DPR) is 18.04%.

Barrick Mining Company Profile

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the production of gold and copper. Its activities include the exploration, development, construction and operation of mines, as well as processing ore into refined metal products.

The company operates and holds interests in mining assets across several regions, including North America, South America, Africa, the Middle East and Papua New Guinea. Its portfolio includes gold operations such as Nevada Gold Mines in the United States, Pueblo Viejo in the Dominican Republic, Veladero in Argentina, Kibali in the Democratic Republic of the Congo, and North Mara and Bulyanhulu in Tanzania.