Barrick Mining (NYSE:B) PT Set at $59.00 by TD

Barrick Mining (NYSE:B) (TSE:ABX) received a $59.00 price target from stock analysts at TD in a research note issued on Wednesday, BayStreet reports. The brokerage currently has a “buy” rating on the gold and copper producer’s stock. TD’s price target would indicate a potential upside of 38.58% from the company’s previous close.

B has been the subject of a number of other reports. Citigroup raised their target price on shares of Barrick Mining from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. UBS Group decreased their price target on shares of Barrick Mining from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Barclays lifted their price objective on shares of Barrick Mining from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Barrick Mining in a report on Friday, August 7th. Finally, Royal Bank Of Canada upped their target price on shares of Barrick Mining from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $52.90.

Barrick Mining Price Performance

Shares of B stock traded down $0.12 during trading hours on Wednesday, hitting $42.58. The stock had a trading volume of 5,146,205 shares, compared to its average volume of 12,804,480. 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 has a market capitalization of $70.07 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 1.24 and a beta of 0.51. Barrick Mining has a one year low of $28.38 and a one year high of $54.69. The stock’s 50-day moving average price is $41.01 and its two-hundred day moving average price is $41.24.

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

Institutional Investors Weigh In On Barrick Mining

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ascentis Independent Advisors bought a new position in Barrick Mining during the 1st quarter valued at about $28,000. Motiv8 Investments LLC bought a new stake in Barrick Mining in the fourth quarter worth about $31,000. Key Financial Inc boosted its position in shares of Barrick Mining by 137.5% during the first quarter. Key Financial Inc now owns 753 shares of the gold and copper producer’s stock valued at $31,000 after buying an additional 436 shares during the period. Nomura Asset Management Co. Ltd. purchased a new position in shares of Barrick Mining during the fourth quarter valued at approximately $35,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Barrick Mining during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

About Barrick Mining

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.