Barrick Mining (NYSE:B) Trading Up 2.2% – Here’s What Happened

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) were up 2.2% during trading on Friday . The company traded as high as $41.30 and last traded at $41.0970. Approximately 11,473,271 shares were traded during trading, a decline of 23% from the average daily volume of 14,833,007 shares. The stock had previously closed at $40.20.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on B shares. UBS Group dropped their price target on shares of Barrick Mining from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Citigroup lifted their price target on shares of Barrick Mining from $38.00 to $48.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Barrick Mining in a research note on Friday, March 27th. JPMorgan Chase & Co. started coverage on shares of Barrick Mining in a research note on Thursday, January 29th. They set an “overweight” rating and a $68.00 price target for the company. Finally, Zacks Research cut shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.17.

Barrick Mining Stock Performance

The company has a market capitalization of $68.86 billion, a PE ratio of 14.03, a PEG ratio of 1.52 and a beta of 0.50. The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $43.67 and its 200-day simple moving average is $42.08.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.19. The company had revenue of $5.98 billion during the quarter, compared to analysts’ expectations 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. On average, research analysts predict that Barrick Mining Corporation will post 3.61 earnings per share for the current year.

Barrick Mining Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were given a $0.42 dividend. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.68 annualized dividend and a yield of 4.1%. Barrick Mining’s dividend payout ratio is presently 57.34%.

Institutional Investors Weigh In On Barrick Mining

Several large investors have recently added to or reduced their stakes in B. Capital International Investors boosted its position in Barrick Mining by 35.9% in the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock valued at $3,340,709,000 after buying an additional 26,921,219 shares during the period. CIBC Asset Management Inc boosted its position in Barrick Mining by 316.0% in the 3rd quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer’s stock valued at $601,115,000 after buying an additional 13,891,886 shares during the period. FIL Ltd boosted its position in Barrick Mining by 85.3% in the 4th quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock valued at $1,311,169,000 after buying an additional 13,853,587 shares during the period. Van ECK Associates Corp boosted its position in Barrick Mining by 22.8% in the 4th quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock valued at $2,413,699,000 after buying an additional 10,287,544 shares during the period. Finally, Ameriprise Financial Inc. purchased a new stake in Barrick Mining in the 2nd quarter valued at about $211,263,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

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.