Barrick Mining (NYSE:B) Upgraded to “Moderate Buy” at Cormark

Cormark upgraded shares of Barrick Mining (NYSE:B) (TSE:ABX) from a hold rating to a moderate buy rating in a report released on Tuesday,Zacks.com reports.

A number of other research firms also recently weighed in on B. National Bank Financial raised shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 22nd. Wall Street Zen lowered shares of Barrick Mining from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. CIBC increased their target price on Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. BMO Capital Markets reiterated a “market perform” rating on shares of Barrick Mining in a research report on Monday, September 22nd. Finally, Bank of America raised their target price on shares of Barrick Mining from $36.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Barrick Mining presently has an average rating of “Moderate Buy” and an average price target of $42.90.

Barrick Mining Trading Up 4.0%

Shares of B stock traded up $1.44 on Tuesday, reaching $37.25. The company had a trading volume of 6,253,271 shares, compared to its average volume of 19,976,123. The company has a 50-day moving average of $32.28 and a 200-day moving average of $25.13. The stock has a market cap of $62.86 billion, a PE ratio of 23.58, a PEG ratio of 0.40 and a beta of 0.28. Barrick Mining has a 12 month low of $15.11 and a 12 month high of $37.54. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Monday, November 10th. The gold and copper producer reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.20 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 EPS. On average, equities analysts forecast that Barrick Mining will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.9%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, November 28th. Barrick Mining’s payout ratio is presently 37.74%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Caitlin John LLC purchased a new stake in shares of Barrick Mining in the third quarter worth approximately $182,000. Allianz SE raised its stake in shares of Barrick Mining by 47.2% in the third quarter. Allianz SE now owns 3,230,629 shares of the gold and copper producer’s stock valued at $106,132,000 after buying an additional 1,035,857 shares during the period. TIAA Trust National Association bought a new stake in shares of Barrick Mining in the third quarter valued at approximately $202,000. Close Asset Management Ltd bought a new stake in shares of Barrick Mining during the 3rd quarter valued at $61,000. Finally, Choreo LLC bought a new stake in Barrick Mining during the 3rd quarter worth approximately $641,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Company Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.