Barrick Mining Sees Unusually Large Options Volume (NYSE:B)

Barrick Mining Corporation (NYSE:B) (TSE:ABX) saw some unusual options trading on Wednesday. Stock traders purchased 206,572 call options on the stock. This is an increase of 258% compared to the typical volume of 57,635 call options.

Wall Street Analyst Weigh In

Several research analysts have weighed in on B shares. BMO Capital Markets reissued a “market perform” rating on shares of Barrick Mining in a research report on Monday, September 22nd. Citigroup upgraded shares of Barrick Mining from a “hold” rating to a “buy” rating in a report on Monday. Zacks Research cut shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. National Bank Financial upgraded shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 22nd. Finally, Wall Street Zen downgraded Barrick Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $44.78.

Barrick Mining Stock Performance

Shares of B stock traded up $1.85 during trading on Wednesday, reaching $40.97. 21,838,418 shares of the company’s stock traded hands, compared to its average volume of 20,154,551. Barrick Mining has a 1 year low of $15.11 and a 1 year high of $40.99. The company has a market capitalization of $69.14 billion, a P/E ratio of 25.77, a PEG ratio of 0.40 and a beta of 0.28. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average is $34.03 and its 200 day moving average is $26.44.

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

Barrick Mining Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be given a dividend of $0.175 per share. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, November 28th. Barrick Mining’s dividend payout ratio (DPR) is currently 33.82%.

Hedge Funds Weigh In On Barrick Mining

A number of large investors have recently modified their holdings of B. Vanguard Group Inc. purchased a new stake in Barrick Mining in the second quarter valued at approximately $1,459,633,000. Cadence Wealth Management LLC bought a new position in shares of Barrick Mining in the 2nd quarter worth $1,112,000. Hillsdale Investment Management Inc. bought a new stake in shares of Barrick Mining during the 2nd quarter worth $30,641,000. Hedges Asset Management LLC bought a new position in Barrick Mining in the second quarter valued at $1,249,000. Finally, Chemistry Wealth Management LLC bought a new position in Barrick Mining in the second quarter valued at $246,000. 90.82% of the stock is currently owned by institutional investors.

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.