Barrick Mining Corporation (NYSE:B) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Barrick Mining Corporation (NYSE:B) (TSE:ABX) has been given a consensus rating of “Moderate Buy” by the twenty-two brokerages that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $53.4615.

A number of analysts have recently weighed in on B shares. Canadian Imperial Bank of Commerce cut their price objective on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 21st. Citigroup upped their price objective on Barrick Mining from $38.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Weiss Ratings downgraded shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. 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. Finally, ATB Cormark Capital Markets downgraded shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th.

Barrick Mining Stock Up 2.0%

Barrick Mining stock opened at $43.15 on Wednesday. Barrick Mining has a twelve month low of $19.57 and a twelve month high of $54.69. The stock’s fifty day simple moving average is $41.25 and its 200-day simple moving average is $43.69. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $72.30 billion, a P/E ratio of 11.92, a P/E/G ratio of 1.12 and a beta of 0.44.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. The business’s quarterly revenue was up 66.7% compared to the same quarter last year. As a group, equities analysts expect that Barrick Mining will post 3.78 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a dividend of $0.175 per share. The ex-dividend date is Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.6%. Barrick Mining’s payout ratio is presently 19.34%.

Hedge Funds Weigh In On Barrick Mining

Institutional investors and hedge funds have recently modified their holdings of the company. Westside Investment Management Inc. acquired a new position in shares of Barrick Mining during the fourth quarter worth $25,000. Financial Consulate Inc. grew its stake in shares of Barrick Mining by 1,042.0% during the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after purchasing an additional 521 shares in the last quarter. Intesa Sanpaolo Wealth Management acquired a new position in shares of Barrick Mining during the fourth quarter worth $26,000. Ascentis Independent Advisors acquired a new position in shares of Barrick Mining during the first quarter worth $28,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Barrick Mining during the fourth quarter worth $30,000. Institutional investors and hedge funds 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.