Barrick Mining Corporation (NYSE:B) Receives $52.57 Average PT from Brokerages

Barrick Mining Corporation (NYSE:B) (TSE:ABX) has been assigned an average recommendation of “Moderate Buy” from the twenty-three analysts that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $52.5714.

B has been the topic of a number of research analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Barrick Mining in a research note on Friday, August 7th. Citigroup reaffirmed a “positive” rating on shares of Barrick Mining in a report on Wednesday, July 15th. UBS Group dropped their target price on shares of Barrick Mining from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Royal Bank Of Canada cut their target price on shares of Barrick Mining from $51.00 to $49.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Finally, Canadian Imperial Bank of Commerce set a $57.00 target price on shares of Barrick Mining in a research note on Wednesday, August 12th.

Hedge Funds Weigh In On Barrick Mining

A number of hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in shares of Barrick Mining by 22.8% in the fourth quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock worth $2,413,699,000 after acquiring an additional 10,287,544 shares during the last quarter. Royal Bank of Canada raised its stake in Barrick Mining by 10.9% in the 1st quarter. Royal Bank of Canada now owns 39,598,520 shares of the gold and copper producer’s stock valued at $1,615,225,000 after purchasing an additional 3,881,841 shares during the last quarter. FIL Ltd raised its stake 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 purchasing an additional 13,853,587 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Barrick Mining by 61.9% in the 4th quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer’s stock valued at $909,104,000 after purchasing an additional 7,870,411 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in Barrick Mining by 5.6% in the 4th quarter. TD Asset Management Inc now owns 20,395,667 shares of the gold and copper producer’s stock valued at $889,627,000 after purchasing an additional 1,086,332 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Stock Performance

NYSE B opened at $47.70 on Monday. The stock has a market capitalization of $78.51 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 0.91 and a beta of 0.47. The stock has a 50-day moving average of $38.85 and a 200 day moving average of $41.54. The company has a current ratio of 3.01, a quick ratio of 2.36 and a debt-to-equity ratio of 0.13. Barrick Mining has a twelve month low of $25.28 and a twelve month high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Monday, August 10th. The gold and copper producer reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. The company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $5.10 billion. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%.Barrick Mining’s quarterly revenue was up 43.8% compared to the same quarter last year. During the same period last year, the company earned $0.47 earnings per share. Sell-side analysts anticipate that Barrick Mining will post 3.55 EPS for the current fiscal year.

Barrick Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, August 31st. Barrick Mining’s payout ratio is presently 18.04%.

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.