Barrick Mining Corporation (NYSE:B) Receives $52.63 Average Price Target from Brokerages

Barrick Mining Corporation (NYSE:B) (TSE:ABX) has been assigned an average rating of “Moderate Buy” from the twenty-three analysts that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $52.6333.

A number of equities research analysts recently commented on B shares. Sanford C. Bernstein decreased their target price on Barrick Mining from $61.00 to $56.50 and set an “outperform” rating for the company in a report on Wednesday, September 9th. JPMorgan Chase & Co. increased their price target on shares of Barrick Mining from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Scotiabank reduced their price target on shares of Barrick Mining from $57.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, August 12th. Royal Bank Of Canada decreased their price objective 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, Bank of America decreased their price objective on shares of Barrick Mining from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th.

Barrick Mining Stock Performance

Shares of B stock opened at $42.66 on Friday. The business has a fifty day moving average of $41.01 and a 200 day moving average of $41.24. Barrick Mining has a 1 year low of $28.38 and a 1 year high of $54.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.36. The firm has a market capitalization of $70.22 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.24 and a beta of 0.51.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $5.10 billion. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%.The company’s quarterly revenue was up 43.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 EPS. As a group, research analysts expect that Barrick Mining will post 3.48 earnings per share for the current year.

Barrick Mining Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, August 31st. Barrick Mining’s dividend payout ratio (DPR) is 18.04%.

Institutional Investors Weigh In On Barrick Mining

Hedge funds have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC grew its position in Barrick Mining by 7.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 38,490 shares of the gold and copper producer’s stock worth $1,414,000 after purchasing an additional 2,510 shares during the period. Engineers Gate Manager LP lifted its holdings in shares of Barrick Mining by 17.5% in the 2nd quarter. Engineers Gate Manager LP now owns 490,619 shares of the gold and copper producer’s stock valued at $18,020,000 after buying an additional 73,226 shares during the period. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in shares of Barrick Mining by 13.9% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 13,229 shares of the gold and copper producer’s stock valued at $486,000 after buying an additional 1,617 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in shares of Barrick Mining by 9.6% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 147,024 shares of the gold and copper producer’s stock valued at $5,400,000 after buying an additional 12,902 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of Barrick Mining by 231.3% in the second quarter. NewEdge Advisors LLC now owns 138,414 shares of the gold and copper producer’s stock worth $5,084,000 after buying an additional 96,636 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

About Barrick Mining

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the production of gold and copper. Its activities include the exploration, development, construction and operation of mines, as well as processing ore into refined metal products.

The company operates and holds interests in mining assets across several regions, including North America, South America, Africa, the Middle East and Papua New Guinea. Its portfolio includes gold operations such as Nevada Gold Mines in the United States, Pueblo Viejo in the Dominican Republic, Veladero in Argentina, Kibali in the Democratic Republic of the Congo, and North Mara and Bulyanhulu in Tanzania.