Barrick Mining Corporation (NYSE:B) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) have been given a consensus recommendation of “Moderate Buy” by the twenty-three ratings firms that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $52.5714.

Several analysts have recently commented on B shares. Canadian Imperial Bank of Commerce set a $57.00 target price on shares of Barrick Mining in a research note on Wednesday, August 12th. Scotiabank cut their target price on shares of Barrick Mining from $57.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, August 12th. TD lowered their price target on shares of Barrick Mining from $61.00 to $59.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Wall Street Zen lowered Barrick Mining from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Citigroup reissued a “positive” rating on shares of Barrick Mining in a research note on Wednesday, July 15th.

Barrick Mining Stock Up 3.1%

B stock opened at $47.70 on Monday. The firm has a 50-day simple moving average of $38.85 and a 200-day simple moving average of $41.57. Barrick Mining has a 52 week low of $25.28 and a 52 week high of $54.69. The company has a quick ratio of 2.36, a current ratio of 3.01 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $78.51 billion, a P/E ratio of 12.29, a P/E/G ratio of 0.90 and a beta of 0.47.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Monday, August 10th. The gold and copper producer reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%.The firm had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the prior year, the firm posted $0.47 earnings per share. The firm’s quarterly revenue was up 43.8% on a year-over-year basis. Equities analysts forecast that Barrick Mining will post 3.52 earnings per share for the current fiscal year.

Barrick Mining Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a $0.175 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.70 annualized dividend and a dividend yield of 1.5%. Barrick Mining’s payout ratio is presently 18.04%.

Hedge Funds Weigh In On Barrick Mining

Several hedge funds and other institutional investors have recently made changes to their positions in B. Van ECK Associates Corp boosted its holdings in Barrick Mining by 22.8% during the fourth quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock worth $2,413,699,000 after buying an additional 10,287,544 shares in the last quarter. Royal Bank of Canada grew its position in Barrick Mining by 10.9% in the 1st quarter. Royal Bank of Canada now owns 39,598,520 shares of the gold and copper producer’s stock worth $1,615,225,000 after purchasing an additional 3,881,841 shares during the last quarter. FIL Ltd increased its holdings in Barrick Mining by 85.3% in the 4th quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock valued at $1,311,169,000 after buying an additional 13,853,587 shares during the period. Mackenzie Financial Corp boosted its stake in Barrick Mining by 61.9% in the 4th quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer’s stock valued at $909,104,000 after buying an additional 7,870,411 shares in the last quarter. Finally, TD Asset Management Inc increased its position in shares of Barrick Mining by 5.6% during the 4th quarter. TD Asset Management Inc now owns 20,395,667 shares of the gold and copper producer’s stock worth $889,627,000 after purchasing an additional 1,086,332 shares in the last quarter. 90.82% of the stock is currently 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.