Barrick Mining (NYSE:B) Trading 1.3% Higher – Should You Buy?

Barrick Mining Corporation (NYSE:B) (TSE:ABX) traded up 1.3% during mid-day trading on Wednesday . The stock traded as high as $44.04 and last traded at $43.4750. 10,291,242 shares traded hands during trading, a decline of 48% from the average session volume of 19,768,098 shares. The stock had previously closed at $42.93.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. CIBC lifted their price target on shares of Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Royal Bank Of Canada lifted their target price on Barrick Mining from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Citigroup upgraded Barrick Mining from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Cormark raised Barrick Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 11th. Finally, Raymond James Financial boosted their price objective on Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, November 25th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $47.17.

Barrick Mining Stock Up 1.3%

The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.33 and a current ratio of 2.94. The firm has a market capitalization of $73.20 billion, a PE ratio of 21.00, a PEG ratio of 0.45 and a beta of 0.40. The company has a fifty day moving average price of $36.54 and a 200-day moving average price of $28.88.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.20 billion. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 EPS. As a group, analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.6%. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, November 28th. Barrick Mining’s dividend payout ratio is 33.82%.

Institutional Trading of Barrick Mining

Several institutional investors and hedge funds have recently modified their holdings of B. Vanguard Group Inc. purchased a new stake in Barrick Mining in the second quarter worth about $1,459,633,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Barrick Mining in the 2nd quarter valued at about $1,091,122,000. First Eagle Investment Management LLC purchased a new stake in shares of Barrick Mining in the 2nd quarter worth approximately $822,056,000. Capital International Investors lifted its position in shares of 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 worth $3,340,709,000 after purchasing an additional 26,921,219 shares during the period. Finally, TD Asset Management Inc bought a new position in shares of Barrick Mining during the second quarter valued at approximately $386,328,000. Institutional investors own 90.82% of the company’s stock.

About Barrick Mining

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.