Barrick Mining (NYSE:B) Sets New 52-Week High – Here’s Why

Barrick Mining Corporation (NYSE:B) (TSE:ABX)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $50.81 and last traded at $50.6640, with a volume of 258450 shares. The stock had previously closed at $50.01.

Analysts Set New Price Targets

Several equities research analysts have commented on B shares. Bank of America upgraded shares of Barrick Mining from a “neutral” rating to a “buy” rating and raised their price target for the company from $38.00 to $48.00 in a research note on Monday, November 24th. Zacks Research lowered shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 13th. Cormark raised Barrick Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 11th. Scotiabank upgraded Barrick Mining from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $27.50 to $43.00 in a research report on Thursday, October 23rd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Barrick Mining in a research note on Wednesday, September 24th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Barrick Mining has a consensus rating of “Buy” and an average target price of $47.17.

Barrick Mining Stock Performance

The firm’s 50-day moving average price is $43.21 and its two-hundred day moving average price is $33.40. The company has a quick ratio of 2.33, a current ratio of 2.94 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $83.86 billion, a PE ratio of 24.24, a P/E/G ratio of 0.38 and a beta of 0.41.

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

Barrick Mining Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were issued a dividend of $0.175 per share. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Friday, November 28th. Barrick Mining’s dividend payout ratio is presently 33.82%.

Institutional Investors Weigh In On Barrick Mining

Institutional investors have recently bought and sold shares of the business. Portside Wealth Group LLC lifted its position in shares of Barrick Mining by 7.7% in the fourth quarter. Portside Wealth Group LLC now owns 27,507 shares of the gold and copper producer’s stock worth $1,198,000 after purchasing an additional 1,963 shares in the last quarter. Quilter Plc boosted its holdings in Barrick Mining by 3.6% during the fourth quarter. Quilter Plc now owns 10,670 shares of the gold and copper producer’s stock valued at $465,000 after acquiring an additional 375 shares during the period. Buffalo Business & Estate Services Ltd. acquired a new stake in shares of Barrick Mining in the fourth quarter valued at about $2,702,000. Sowell Financial Services LLC bought a new position in shares of Barrick Mining in the fourth quarter worth about $266,000. Finally, TigerOak Management L.L.C. bought a new position in shares of Barrick Mining in the fourth quarter worth about $218,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barrick Mining Company Profile

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.