Barrick Mining (NYSE:B) Given a $53.00 Price Target by RBC Dominion Securities Analysts

Barrick Mining (NYSE:B) (TSE:ABX) has been given a $53.00 price target by analysts at RBC Dominion Securities in a research note issued to investors on Thursday, BayStreet reports. The firm presently has an “outperform” rating on the gold and copper producer’s stock. RBC Dominion Securities‘s target price points to a potential upside of 37.14% from the stock’s previous close.

Several other research analysts have also commented on the company. Bank of America cut their price objective on Barrick Mining from $56.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Sanford C. Bernstein lowered their target price on shares of Barrick Mining from $61.00 to $56.50 and set an “outperform” rating on the stock in a research note on Wednesday, September 9th. JPMorgan Chase & Co. raised their target price on shares of Barrick Mining from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group dropped their target price on shares of Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Finally, Wall Street Zen cut shares of Barrick Mining from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Barrick Mining has a consensus rating of “Moderate Buy” and an average price target of $52.59.

Barrick Mining Price Performance

Shares of B stock traded down $2.11 on Thursday, reaching $38.65. The company’s stock had a trading volume of 8,618,204 shares, compared to its average volume of 12,135,841. The company has a market capitalization of $63.18 billion, a P/E ratio of 9.96, a PEG ratio of 1.26 and a beta of 0.48. Barrick Mining has a 12-month low of $30.98 and a 12-month high of $54.69. The stock’s 50 day simple moving average is $42.86 and its 200-day simple moving average is $40.94. The company has a quick ratio of 2.36, a current ratio of 3.01 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, August 10th. The gold and copper producer reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%. The firm’s revenue was up 43.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. As a group, equities analysts predict that Barrick Mining will post 3.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Barrick Mining

A number of large investors have recently modified their holdings of the company. Renaissance Technologies LLC lifted its position in Barrick Mining by 335.8% in the 1st quarter. Renaissance Technologies LLC now owns 5,476,478 shares of the gold and copper producer’s stock worth $223,386,000 after buying an additional 4,219,700 shares during the last quarter. Royal Bank of Canada boosted its stake in Barrick Mining by 10.9% in the first quarter. Royal Bank of Canada now owns 39,598,520 shares of the gold and copper producer’s stock worth $1,615,225,000 after buying an additional 3,881,841 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Barrick Mining in the second quarter worth approximately $117,374,000. Ninety One UK Ltd grew its position in Barrick Mining by 13.1% during the third quarter. Ninety One UK Ltd now owns 14,143,606 shares of the gold and copper producer’s stock valued at $575,220,000 after acquiring an additional 1,640,224 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in Barrick Mining by 46.9% during the first quarter. Lazard Asset Management LLC now owns 3,837,842 shares of the gold and copper producer’s stock valued at $156,833,000 after acquiring an additional 1,224,980 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

More Barrick Mining News

Here are the key news stories impacting Barrick Mining this week:

• Positive Sentiment: JPMorgan raised its price target for Barrick from $52 to $55 and maintained an Overweight rating, implying substantial potential upside from recent trading levels. JPMorgan price-target article
• Positive Sentiment: Potential longer-term catalysts include higher dividends, share repurchases and production expansion. Barrick’s valuation has also attracted bullish attention after its shares declined more than 6% year to date. Barrick catalysts article
• Neutral Sentiment: Analyst opinion remains divided: one target was upgraded, while other firms have recently reduced their targets, including TD Securities and CIBC. This suggests investors are weighing Barrick’s attractive valuation against execution and commodity-price risks. Barrick analyst scorecard
• Negative Sentiment: Freedom Broker’s downgrade was part of a broader retreat in gold-mining stocks. The firm cited trimmed EBITDA forecasts, lingering operational risks and valuation constraints, pressuring Barrick alongside Agnico Eagle and Newmont. Gold-miner downgrade article
• Negative Sentiment: Investors are also monitoring cash-flow quality ahead of Barrick’s third-quarter results. Second-quarter net earnings rose 50% year over year on stronger gold and copper prices, but attributable free cash flow fell to $141 million from $212 million, raising questions about how effectively profits are converting into cash. Barrick earnings and cash-flow article

About Barrick Mining

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the exploration, development and production of gold and copper. Its activities include operating mines, advancing development projects and managing mineral reserves across multiple jurisdictions.

The company’s gold operations include Nevada Gold Mines in the United States, a joint venture in which Barrick is the operator, as well as mines and projects in Canada, the Dominican Republic, Mali, Côte d’Ivoire, Tanzania and the Democratic Republic of the Congo.