Barrick Mining (NYSE:B) Shares Down 2.6% – Time to Sell?

Barrick Mining Corporation (NYSE:B) (TSE:ABX) shares dropped 2.6% on Tuesday . The stock traded as low as $45.06 and last traded at $46.65. Approximately 18,703,355 shares changed hands during trading, an increase of 10% from the average daily volume of 17,053,924 shares. The stock had previously closed at $47.91.

Wall Street Analysts Forecast Growth

B has been the topic of several recent analyst reports. Royal Bank Of Canada increased their target price on Barrick Mining from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. UBS Group set a $55.00 price objective on Barrick Mining in a research report on Friday, February 6th. BNP Paribas Exane upgraded Barrick Mining to a “neutral” rating and set a $50.00 price objective for the company in a report on Friday, December 5th. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $71.00 target price on shares of Barrick Mining in a research note on Wednesday, February 4th. Finally, Wall Street Zen upgraded shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.58.

Barrick Mining Price Performance

The company has a market capitalization of $78.16 billion, a P/E ratio of 19.64, a price-to-earnings-growth ratio of 0.39 and a beta of 0.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 2.33. The firm’s 50-day moving average is $46.66 and its 200-day moving average is $37.01.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.19. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The business had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.15 billion. The business’s quarterly revenue was up 44.6% compared to the same quarter last year. Analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, February 27th. Barrick Mining’s dividend payout ratio is currently 23.89%.

Institutional Trading of Barrick Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in B. Westside Investment Management Inc. purchased a new stake in Barrick Mining in the 4th quarter worth $25,000. Financial Consulate Inc. raised its holdings in Barrick Mining by 1,042.0% during the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after buying an additional 521 shares during the period. Intesa Sanpaolo Wealth Management bought a new stake in shares of Barrick Mining in the 4th quarter worth about $26,000. Laurel Wealth Advisors LLC purchased a new position in shares of Barrick Mining during the fourth quarter valued at approximately $30,000. Finally, Motiv8 Investments LLC bought a new position in Barrick Mining in the 4th quarter valued at $31,000. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Company Profile

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.