Scotiabank Cuts Barrick Mining (NYSE:B) Price Target to $55.00

Barrick Mining (NYSE:B) (TSE:ABX) had its target price trimmed by Scotiabank from $57.00 to $55.00 in a research report released on Wednesday morning, MarketBeat reports. The firm currently has a sector outperform rating on the gold and copper producer’s stock.

B has been the topic of several other reports. Wall Street Zen downgraded shares of Barrick Mining from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Citigroup restated a “positive” rating on shares of Barrick Mining in a research report on Wednesday, July 15th. Bank of America decreased their target price on Barrick Mining from $56.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. cut their price target on shares of Barrick Mining from $58.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Barrick Mining in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Barrick Mining presently has an average rating of “Moderate Buy” and an average price target of $52.57.

Barrick Mining Trading Up 1.8%

NYSE:B opened at $41.64 on Wednesday. The company has a market cap of $68.54 billion, a P/E ratio of 10.73, a P/E/G ratio of 0.79 and a beta of 0.47. Barrick Mining has a 1 year low of $23.43 and a 1 year high of $54.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.44. The stock’s fifty day moving average price is $38.27 and its two-hundred day moving average price is $41.78.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. The company had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the previous year, the firm posted $0.47 EPS. The firm’s revenue was up 43.8% compared to the same quarter last year. As a group, analysts expect that Barrick Mining will post 3.51 EPS for the current year.

Barrick Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Barrick Mining’s payout ratio is 18.04%.

Hedge Funds Weigh In On Barrick Mining

A number of large investors have recently bought and sold shares of B. Intesa Sanpaolo Wealth Management acquired a new stake in shares of Barrick Mining in the fourth quarter valued at approximately $26,000. Ascentis Independent Advisors purchased a new position in Barrick Mining during the first quarter worth $28,000. JPL Wealth Management LLC purchased a new stake in shares of Barrick Mining in the third quarter valued at $28,000. Laurel Wealth Advisors LLC purchased a new stake in Barrick Mining during the 4th quarter worth about $30,000. Finally, Motiv8 Investments LLC acquired a new position in Barrick Mining in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Key Headlines Impacting Barrick Mining

Here are the key news stories impacting Barrick Mining this week:

• Positive Sentiment: Gold’s proximity to record highs is improving the outlook for Barrick’s gold production revenue, cash flow and margins. The company also produces copper, providing additional commodity exposure. Barrick Mining in Focus as Gold Stays Near Record Highs
• Positive Sentiment: JPMorgan raised its Barrick price target from $50 to $52 and maintained an “overweight” rating, implying substantial upside from the referenced share price. The target increase signals continued confidence in the company’s valuation and operating outlook.
• Positive Sentiment: Newmont consented to Barrick’s planned North American IPO as part of an agreement resolving disputes related to Nevada Gold Mines. Removing this disclosed transaction hurdle reduces a major execution risk and may help advance the IPO plans. Newmont Removed a Major IPO Risk
• Neutral Sentiment: Despite clearing the IPO obstacle, Barrick shares previously fell more than 6%, indicating that investors may have been focused on valuation, execution uncertainty or profit-taking rather than treating the Newmont agreement as an immediate catalyst. Barrick Mining Cleared Its IPO Hurdle
• Neutral Sentiment: TD lowered its price target to $59, contrasting with JPMorgan’s increase, suggesting analysts remain positive overall but differ on Barrick’s near-term valuation.
• Negative Sentiment: Philippine regulators will review a proposed Marinduque-related settlement amid concerns about rehabilitation obligations. Further scrutiny could create legal, environmental or financial uncertainty for Barrick. DENR to Weigh In on Marinduque-Barrick Settlement

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.