Barrick Mining (NYSE:B) Rating Increased to Moderate Buy at Atb Cormark Cm

Barrick Mining (NYSE:B) (TSE:ABX) was upgraded by investment analysts at Atb Cormark Cm to a “moderate buy” rating in a report released on Monday,Zacks.com reports.

Several other research analysts have also recently commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a report on Monday, December 29th. Scotiabank lifted their price target on Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. UBS Group set a $55.00 target price on Barrick Mining in a research report on Friday. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $71.00 price target on shares of Barrick Mining in a research note on Wednesday, February 4th. Finally, JPMorgan Chase & Co. started coverage on shares of Barrick Mining in a research report on Thursday, January 29th. They set an “overweight” rating and a $68.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Barrick Mining presently has an average rating of “Moderate Buy” and an average price target of $53.58.

Barrick Mining Stock Performance

NYSE:B opened at $46.66 on Monday. The stock has a market capitalization of $78.17 billion, a P/E ratio of 15.92, a PEG ratio of 0.38 and a beta of 0.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.33 and a current ratio of 2.92. Barrick Mining has a fifty-two week low of $17.00 and a fifty-two week high of $54.69. The company has a 50 day moving average price of $46.01 and a 200 day moving average price of $36.10.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, topping the consensus estimate of $0.85 by $0.19. The business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The firm’s quarterly revenue was up 44.6% on a year-over-year basis. Equities research analysts forecast that Barrick Mining will post 1.47 EPS for the current year.

Hedge Funds Weigh In On Barrick Mining

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. bought a new stake in shares of Barrick Mining during the second quarter worth $1,459,633,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Barrick Mining during the 2nd quarter worth approximately $696,000. Philadelphia Trust Co. bought a new stake in shares of Barrick Mining during the 2nd quarter valued at $1,412,000. CIBC Asset Management Inc raised its position in shares of Barrick Mining by 316.0% in the 3rd quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer’s stock valued at $601,115,000 after acquiring an additional 13,891,886 shares during the period. Finally, Cadence Wealth Management LLC bought a new position in Barrick Mining during the 2nd quarter worth approximately $1,112,000. Institutional investors own 90.82% of the company’s stock.

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.