Barrick Mining Corporation (NYSE:B) Given Average Recommendation of “Moderate Buy” by Brokerages

Barrick Mining Corporation (NYSE:B) (TSE:ABX) has been given an average recommendation of “Moderate Buy” by the eighteen research firms that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $42.90.

A number of equities research analysts recently weighed in on the stock. Scotiabank upgraded shares of Barrick Mining from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $27.50 to $43.00 in a report on Thursday, October 23rd. Cibc World Mkts raised Barrick Mining from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. CIBC increased their price objective on Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Bank of America raised their target price on Barrick Mining from $36.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Finally, Canaccord Genuity Group upped their price target on Barrick Mining from $39.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, October 9th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in B. Hedges Asset Management LLC purchased a new position in Barrick Mining in the second quarter valued at about $1,249,000. Chemistry Wealth Management LLC purchased a new stake in shares of Barrick Mining during the 2nd quarter worth approximately $246,000. First Eagle Investment Management LLC bought a new stake in shares of Barrick Mining in the 2nd quarter worth approximately $822,056,000. Sigma Planning Corp purchased a new position in Barrick Mining in the second quarter valued at approximately $1,306,000. Finally, Keybank National Association OH bought a new position in Barrick Mining during the second quarter valued at $362,000. 90.82% of the stock is owned by institutional investors.

Barrick Mining Price Performance

Shares of B opened at $37.00 on Friday. The business’s fifty day moving average is $32.84 and its 200 day moving average is $25.42. Barrick Mining has a 12-month low of $15.11 and a 12-month high of $37.73. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. The stock has a market cap of $62.43 billion, a P/E ratio of 23.27, a P/E/G ratio of 0.40 and a beta of 0.28.

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

Barrick Mining Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, November 28th. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s dividend payout ratio (DPR) is currently 33.82%.

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.