Barrick Mining (NYSE:B) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Barrick Mining (NYSE:B) (TSE:ABX) had its target price hoisted by analysts at JPMorgan Chase & Co. from $52.00 to $55.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the gold and copper producer’s stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 35.39% from the stock’s previous close.

B has been the topic of several other research reports. Barclays lifted their price target on Barrick Mining from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Bank of America reduced their price objective on Barrick Mining from $56.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Citigroup raised their price objective on Barrick Mining from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. Sanford C. Bernstein decreased their target price on Barrick Mining from $61.00 to $56.50 and set an “outperform” rating on the stock in a research report on Wednesday, September 9th. Finally, Wall Street Zen downgraded Barrick Mining from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Barrick Mining has a consensus rating of “Moderate Buy” and a consensus price target of $53.04.

Barrick Mining Price Performance

B stock traded up $0.19 during mid-day trading on Wednesday, hitting $40.62. The stock had a trading volume of 892,588 shares, compared to its average volume of 12,140,577. The company has a current ratio of 3.01, a quick ratio of 2.36 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $66.41 billion, a P/E ratio of 10.46, a P/E/G ratio of 1.25 and a beta of 0.48. The firm has a fifty day simple moving average of $42.87 and a 200 day simple moving average of $40.94. Barrick Mining has a 52 week low of $30.35 and a 52 week high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Monday, August 10th. The gold and copper producer reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the previous year, the business earned $0.47 earnings per share. The company’s revenue was up 43.8% on a year-over-year basis. As a group, research analysts forecast that Barrick Mining will post 3.52 EPS for the current year.

Hedge Funds Weigh In On Barrick Mining

Large investors have recently added to or reduced their stakes in the business. Ascentis Independent Advisors purchased a new stake in shares of Barrick Mining in the first quarter worth approximately $28,000. Key Financial Inc lifted its holdings in shares of Barrick Mining by 137.5% in the first quarter. Key Financial Inc now owns 753 shares of the gold and copper producer’s stock valued at $31,000 after purchasing an additional 436 shares in the last quarter. Continuum Advisory LLC bought a new position in shares of Barrick Mining in the second quarter valued at approximately $32,000. Allied Private Wealth LLC purchased a new position in shares of Barrick Mining during the second quarter valued at approximately $35,000. Finally, Main Street Group LTD purchased a new position in shares of Barrick Mining during the first quarter valued at approximately $46,000. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Company Profile

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the exploration, development and production of gold and copper. Its activities include operating mines, advancing development projects and managing mineral reserves across multiple jurisdictions.

The company’s gold operations include Nevada Gold Mines in the United States, a joint venture in which Barrick is the operator, as well as mines and projects in Canada, the Dominican Republic, Mali, Côte d’Ivoire, Tanzania and the Democratic Republic of the Congo.