Barrick Mining (NYSE:B) Trading 3.5% Higher – Still a Buy?

Barrick Mining Corporation (NYSE:B) (TSE:ABX)’s share price rose 3.5% during trading on Wednesday . The stock traded as high as $48.69 and last traded at $48.3020. Approximately 10,872,841 shares were traded during trading, a decline of 36% from the average daily volume of 17,020,506 shares. The stock had previously closed at $46.65.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Zacks Research lowered Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 13th. ATB Cormark Capital Markets raised Barrick Mining to a “moderate buy” rating in a research note on Monday, February 9th. Wall Street Zen upgraded Barrick Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Raymond James Financial upped their price target on Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Barrick Mining currently has an average rating of “Moderate Buy” and an average price target of $55.25.

Barrick Mining Stock Up 3.5%

The company has a market capitalization of $80.92 billion, a P/E ratio of 16.49, a P/E/G ratio of 0.39 and a beta of 0.40. The company has a quick ratio of 2.33, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $46.77 and a 200-day simple moving average of $37.19.

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

Barrick Mining Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.5%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, February 27th. Barrick Mining’s dividend payout ratio is currently 23.89%.

Hedge Funds Weigh In On Barrick Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in B. Vanguard Group Inc. acquired a new stake in shares of Barrick Mining in the 2nd quarter valued at about $1,459,633,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Barrick Mining during the second quarter worth about $1,091,122,000. First Eagle Investment Management LLC bought a new position in shares of Barrick Mining during the second quarter worth about $822,056,000. Capital International Investors raised its position in Barrick Mining by 35.9% in the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock valued at $3,340,709,000 after buying an additional 26,921,219 shares during the last quarter. Finally, Geode Capital Management LLC acquired a new stake in Barrick Mining in the 2nd quarter valued at approximately $307,855,000. 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.