Barrick Mining (NYSE:B) Rating Increased to Hold at Barclays

Barrick Mining (NYSE:B) (TSE:ABX) was upgraded by equities research analysts at Barclays to a “hold” rating in a report released on Thursday,Zacks.com reports.

B has been the subject of a number of other research reports. JPMorgan Chase & Co. started coverage on shares of Barrick Mining in a research note on Thursday, January 29th. They issued an “overweight” rating and a $68.00 price target for the company. 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. Canadian Imperial Bank of Commerce dropped their price target on shares of Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research note on Tuesday, April 21st. Scotiabank lifted their price target on shares of Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Finally, ATB Cormark Capital Markets lowered shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.46.

Barrick Mining Trading Down 1.5%

B opened at $40.64 on Thursday. The firm has a market capitalization of $68.10 billion, a P/E ratio of 11.23, a P/E/G ratio of 1.12 and a beta of 0.41. The firm’s 50 day moving average is $41.26 and its 200-day moving average is $43.27. Barrick Mining has a 52-week low of $18.58 and a 52-week high of $54.69. The company has a quick ratio of 2.44, a current ratio of 3.06 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.18. The company 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%. The business’s quarterly revenue was up 66.7% compared to the same quarter last year. Analysts expect that Barrick Mining will post 3.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Barrick Mining

A number of hedge funds have recently added to or reduced their stakes in the business. Bogart Wealth LLC boosted its holdings in Barrick Mining by 3.5% in the fourth quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer’s stock worth $281,000 after purchasing an additional 218 shares during the period. Parvin Asset Management LLC boosted its holdings in Barrick Mining by 0.7% in the fourth quarter. Parvin Asset Management LLC now owns 33,385 shares of the gold and copper producer’s stock worth $1,454,000 after purchasing an additional 225 shares during the period. Silver Oak Securities Incorporated boosted its holdings in Barrick Mining by 2.9% in the first quarter. Silver Oak Securities Incorporated now owns 8,810 shares of the gold and copper producer’s stock worth $359,000 after purchasing an additional 246 shares during the period. Mmbg Investment Advisors CO. boosted its holdings in Barrick Mining by 0.6% in the fourth quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer’s stock worth $1,892,000 after purchasing an additional 254 shares during the period. Finally, S.A. Mason LLC boosted its holdings in Barrick Mining by 1.3% in the fourth quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer’s stock worth $1,007,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds 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.