Barrick Mining (NYSE:B) Sets New 12-Month High – Here’s What Happened

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) reached a new 52-week high on Thursday . The company traded as high as $44.38 and last traded at $44.1690, with a volume of 4480852 shares. The stock had previously closed at $43.57.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on B shares. Weiss Ratings reissued a “buy (b)” rating on shares of Barrick Mining in a report on Monday. Canaccord Genuity Group raised their target price on Barrick Mining from $39.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. BNP Paribas Exane raised shares of Barrick Mining from a “neutral” rating to an “outperform” rating and set a $50.00 price target on the stock in a report on Friday, December 5th. Scotiabank upgraded shares of Barrick Mining from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $27.50 to $43.00 in a research note on Thursday, October 23rd. Finally, National Bankshares upgraded shares of Barrick Mining to an “outperform” rating in a research report on Monday, September 22nd. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $47.17.

Barrick Mining Stock Performance

The company has a quick ratio of 2.33, a current ratio of 2.94 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $37.19 and a 200-day simple moving average of $29.26. The company has a market capitalization of $75.38 billion, a P/E ratio of 21.63, a PEG ratio of 0.45 and a beta of 0.40.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results 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 24.53% and a return on equity of 9.48%. The business had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same quarter in the prior year, the firm earned $0.09 EPS. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.6%. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, November 28th. Barrick Mining’s dividend payout ratio is presently 33.82%.

Institutional Investors Weigh In On Barrick Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of B. Vermillion Wealth Management Inc. acquired a new position in Barrick Mining in the second quarter worth $25,000. Crowley Wealth Management Inc. bought a new position in shares of Barrick Mining in the second quarter valued at about $26,000. Concord Wealth Partners acquired a new position in Barrick Mining during the 2nd quarter worth about $26,000. Arlington Trust Co LLC bought a new stake in Barrick Mining during the 3rd quarter worth about $26,000. Finally, Ameriflex Group Inc. acquired a new stake in Barrick Mining in the 2nd quarter valued at about $27,000. 90.82% of the stock is owned by institutional investors and hedge funds.

About Barrick Mining

Barrick Gold Corporation, commonly known as Barrick, is a Toronto‑headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large‑scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.

The company’s activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.