Barrick Mining (NYSE:B) Given New $77.00 Price Target at Canaccord Genuity Group

Barrick Mining (NYSE:B) (TSE:ABX) had its price objective reduced by investment analysts at Canaccord Genuity Group from $80.00 to $77.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the gold and copper producer’s stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 59.30% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. Cormark raised shares of Barrick Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 11th. Bank of America upgraded Barrick Mining from a “neutral” rating to a “buy” rating and upped their price target for the stock from $38.00 to $48.00 in a research note on Monday, November 24th. Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $71.00 price objective on shares of Barrick Mining in a report on Wednesday, February 4th. Jefferies Financial Group reissued a “buy” rating and set a $55.00 target price on shares of Barrick Mining in a research report on Sunday, December 7th. Finally, UBS Group set a $55.00 price target on shares of Barrick Mining in a report on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.25.

Barrick Mining Trading Up 3.6%

Shares of NYSE B traded up $1.69 during midday trading on Wednesday, reaching $48.34. 8,243,922 shares of the stock were exchanged, compared to its average volume of 16,933,354. The company has a market capitalization of $80.98 billion, a P/E ratio of 16.50, a P/E/G 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 has a 52-week low of $17.00 and a 52-week high of $54.69. The stock has a 50 day moving average price of $46.77 and a 200-day moving average price of $37.19.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.19. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.15 billion. The company’s quarterly revenue was up 44.6% on a year-over-year basis. Equities research analysts expect that Barrick Mining will post 1.47 earnings per share for the current fiscal year.

Institutional Trading of Barrick Mining

A number of institutional investors and hedge funds have recently modified their holdings of the business. VestGen Advisors LLC acquired a new stake in Barrick Mining in the fourth quarter worth approximately $208,000. SummitTX Capital L.P. lifted its holdings in shares of Barrick Mining by 127.6% in the fourth quarter. SummitTX Capital L.P. now owns 479,945 shares of the gold and copper producer’s stock valued at $20,902,000 after buying an additional 269,085 shares during the period. Summit Securities Group LLC lifted its holdings in shares of Barrick Mining by 4,075.0% in the fourth quarter. Summit Securities Group LLC now owns 33,400 shares of the gold and copper producer’s stock valued at $1,455,000 after buying an additional 32,600 shares during the period. Susquehanna Fundamental Investments LLC boosted its stake in Barrick Mining by 95.7% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 259,100 shares of the gold and copper producer’s stock valued at $11,284,000 after buying an additional 126,700 shares in the last quarter. Finally, Occudo Quantitative Strategies LP grew its holdings in Barrick Mining by 147.2% during the fourth quarter. Occudo Quantitative Strategies LP now owns 77,676 shares of the gold and copper producer’s stock worth $3,383,000 after acquiring an additional 46,248 shares during the period. 90.82% of the stock is 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.