Barrick Mining Corporation (NYSE:B) Receives $52.46 Consensus Target Price from Analysts

Barrick Mining Corporation (NYSE:B) (TSE:ABX) has been given a consensus recommendation of “Moderate Buy” by the twenty-two research firms that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $52.4615.

B has been the subject of several research reports. UBS Group lowered their price target on shares of Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Citigroup reissued a “positive” rating on shares of Barrick Mining in a research report on Wednesday, July 15th. Barclays cut their price objective on Barrick Mining from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 15th. Scotiabank cut their price objective on shares of Barrick Mining from $63.00 to $57.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Finally, Bank of America decreased their price objective on Barrick Mining from $58.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, July 9th.

Barrick Mining Stock Down 1.1%

Shares of B opened at $36.30 on Thursday. 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 $60.39 billion, a P/E ratio of 10.03, a P/E/G ratio of 0.78 and a beta of 0.48. The firm has a fifty day moving average price of $38.65 and a 200-day moving average price of $42.51. Barrick Mining has a 12-month low of $20.94 and a 12-month high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.18. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. Barrick Mining’s revenue for the quarter was up 66.7% on a year-over-year basis. Equities research analysts expect that Barrick Mining will post 3.57 earnings per share for the current year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, May 29th. Barrick Mining’s dividend payout ratio is currently 19.34%.

Institutional Investors Weigh In On Barrick Mining

A number of institutional investors have recently modified their holdings of B. CW Advisors LLC acquired a new stake in Barrick Mining in the second quarter valued at approximately $283,000. EverSource Wealth Advisors LLC purchased a new position in Barrick Mining during the second quarter valued at $53,000. First Trust Advisors LP purchased a new position in Barrick Mining in the 2nd quarter valued at about $857,000. Baird Financial Group Inc. purchased a new position in shares of Barrick Mining in the second quarter valued at approximately $2,569,000. Finally, Cresset Asset Management LLC acquired a new stake in Barrick Mining during the 2nd quarter worth $543,000. 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.