Barrick Mining (NYSE:B) Shares Climb 2.5% – Still a Buy?

Barrick Mining Corporation (NYSE:B) (TSE:ABX)’s share price traded up 2.5% on Monday. The company traded as high as $38.41 and last traded at $37.9420. Approximately 6,292,699 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 11,984,466 shares. The stock had previously closed at $37.01.

Analysts Set New Price Targets

B has been the subject of several research analyst reports. Canadian Imperial Bank of Commerce cut Barrick Mining from a “sector outperform” rating to a “neutral” rating and cut their price objective for the stock from $57.00 to $49.00 in a research report on Friday, October 16th. RBC Dominion Securities set a $53.00 target price on shares of Barrick Mining and gave the stock an “outperform” rating in a research report on Thursday, October 22nd. Citigroup boosted their target price on shares of Barrick Mining from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. Freedom Broker cut shares of Barrick Mining from a “buy” rating to a “hold” rating and lowered their price target for the stock from $54.00 to $46.00 in a research note on Thursday, October 22nd. Finally, TD set a $59.00 price target on shares of Barrick Mining and gave the company a “buy” rating in a report on Wednesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Barrick Mining has an average rating of “Moderate Buy” and a consensus price target of $52.59.

Barrick Mining Trading Up 8.4%

The firm has a market cap of $65.41 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 1.15 and a beta of 0.52. The business has a fifty day moving average of $41.59 and a two-hundred day moving average of $42.07. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.36 and a current ratio of 3.01.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%. Barrick Mining’s revenue was up 43.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 earnings per share. As a group, equities analysts expect that Barrick Mining Corporation will post 3.49 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 given a $0.1750 dividend. The ex-dividend date was Monday, August 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.7%. Barrick Mining’s dividend payout ratio (DPR) is currently 18.04%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Diversify Advisory Services LLC increased its holdings in Barrick Mining by 61.5% during the 3rd quarter. Diversify Advisory Services LLC now owns 90,724 shares of the gold and copper producer’s stock valued at $3,679,000 after acquiring an additional 34,547 shares in the last quarter. Groupe la Francaise lifted its holdings in shares of Barrick Mining by 3.3% in the second quarter. Groupe la Francaise now owns 943,327 shares of the gold and copper producer’s stock valued at $34,667,000 after purchasing an additional 29,816 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Barrick Mining by 231.3% in the second quarter. NewEdge Advisors LLC now owns 138,414 shares of the gold and copper producer’s stock valued at $5,084,000 after purchasing an additional 96,636 shares in the last quarter. Spark Investment Management LLC lifted its holdings in shares of Barrick Mining by 31.6% in the second quarter. Spark Investment Management LLC now owns 50,000 shares of the gold and copper producer’s stock valued at $1,837,000 after purchasing an additional 12,000 shares in the last quarter. Finally, Summit Securities Group LLC lifted its holdings in shares of Barrick Mining by 203.6% in the first quarter. Summit Securities Group LLC now owns 101,400 shares of the gold and copper producer’s stock valued at $4,136,000 after purchasing an additional 68,000 shares in the last quarter. Institutional investors and hedge funds 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 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.