Barrick Mining (NYSE:B) Trading 1.8% Higher – What’s Next?

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) shot up 1.8% during mid-day trading on Wednesday . The stock traded as high as $48.09 and last traded at $47.7770. 14,508,472 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 17,009,572 shares. The stock had previously closed at $46.95.

Wall Street Analyst Weigh In

A number of analysts recently commented on B shares. Scotiabank lifted their price target on Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $71.00 target price on shares of Barrick Mining in a research note on Wednesday, February 4th. Royal Bank Of Canada boosted their price target on shares of Barrick Mining from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Citigroup increased their price target on shares of Barrick Mining from $38.00 to $48.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Barrick Mining in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.58.

Barrick Mining Trading Up 1.8%

The firm has a fifty day moving average of $46.12 and a two-hundred day moving average of $36.28. The company has a market cap of $80.04 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 0.39 and a beta of 0.40. The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, beating the consensus estimate of $0.85 by $0.19. The business had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $5.15 billion. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. Barrick Mining’s revenue for the quarter was up 44.6% on a year-over-year basis. As a group, sell-side analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a $0.42 dividend. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.68 annualized dividend and a yield of 3.5%. Barrick Mining’s payout ratio is 57.34%.

Institutional Investors Weigh In On Barrick Mining

Several institutional investors have recently made changes to their positions in B. Truist Financial Corp purchased a new position in shares of Barrick Mining in the second quarter valued at $926,000. US Bancorp DE purchased a new position in Barrick Mining during the 2nd quarter valued at about $620,000. Blair William & Co. IL bought a new stake in shares of Barrick Mining during the second quarter valued at about $2,265,000. IFP Advisors Inc bought a new stake in shares of Barrick Mining during the second quarter valued at about $144,000. Finally, Apollon Wealth Management LLC purchased a new stake in shares of Barrick Mining in the second quarter worth about $561,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

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.