TD Analysts Give Barrick Mining (NYSE:B) a $59.00 Price Target

TD set a $59.00 target price on Barrick Mining (NYSE:B) (TSE:ABX) in a research report sent to investors on Wednesday,BayStreet reports. The brokerage currently has a buy rating on the gold and copper producer’s stock.

Several other analysts have also recently commented on B. Barclays raised their target price on shares of Barrick Mining from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Barrick Mining in a research note on Friday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Barrick Mining from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, August 14th. UBS Group cut their price target on Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Finally, Scotiabank reduced their price objective on shares of Barrick Mining from $57.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Barrick Mining presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.90.

Barrick Mining Stock Down 0.8%

B opened at $43.34 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.36 and a current ratio of 3.01. Barrick Mining has a one year low of $30.15 and a one year high of $54.69. The business’s 50-day simple moving average is $41.42 and its 200-day simple moving average is $41.15. The stock has a market capitalization of $71.33 billion, a P/E ratio of 11.17, a price-to-earnings-growth ratio of 1.28 and a beta of 0.51.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.01. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. The business had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the prior year, the firm earned $0.47 earnings per share. The business’s quarterly revenue was up 43.8% compared to the same quarter last year. Analysts anticipate that Barrick Mining will post 3.48 EPS for the current year.

Barrick Mining Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were issued a dividend of $0.175 per share. The ex-dividend date was Monday, August 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.6%. Barrick Mining’s payout ratio is presently 18.04%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Williamson Legacy Group LLC bought a new stake in Barrick Mining during the fourth quarter worth approximately $1,315,000. Great Diamond Partners LLC bought a new position in Barrick Mining during the 4th quarter valued at $2,393,000. Erste Asset Management GmbH increased its position in shares of Barrick Mining by 146.9% during the 4th quarter. Erste Asset Management GmbH now owns 43,700 shares of the gold and copper producer’s stock valued at $1,911,000 after purchasing an additional 26,000 shares during the period. GeoSphere Capital Management LLC acquired a new position in shares of Barrick Mining during the 4th quarter valued at $1,960,000. Finally, Hillsdale Investment Management Inc. lifted its holdings in shares of Barrick Mining by 7.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,165,501 shares of the gold and copper producer’s stock valued at $50,861,000 after buying an additional 78,750 shares during the period. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Company Profile

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the production of gold and copper. Its activities include the exploration, development, construction and operation of mines, as well as processing ore into refined metal products.

The company operates and holds interests in mining assets across several regions, including North America, South America, Africa, the Middle East and Papua New Guinea. Its portfolio includes gold operations such as Nevada Gold Mines in the United States, Pueblo Viejo in the Dominican Republic, Veladero in Argentina, Kibali in the Democratic Republic of the Congo, and North Mara and Bulyanhulu in Tanzania.