Barrick Mining Corporation (NYSE:B) Stock Has Consensus Price Target of $52.90

Barrick Mining Corporation (NYSE:B) (TSE:ABX) has received a consensus recommendation of “Moderate Buy” from the twenty research firms that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $53.39.

Several equities analysts have commented on the stock. Royal Bank Of Canada raised their target price on shares of Barrick Mining from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Scotiabank reduced their price target on shares of Barrick Mining from $57.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Barrick Mining in a research report on Friday, August 7th. Sanford C. Bernstein decreased their price objective 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. Finally, UBS Group lowered their price objective 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.

Barrick Mining Stock Performance

B opened at $39.98 on Tuesday. The firm has a market cap of $65.37 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 1.15 and a beta of 0.48. Barrick Mining has a 52-week low of $30.35 and a 52-week high of $54.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.36 and a current ratio of 3.01. The business’s fifty day moving average is $42.79 and its 200-day moving average is $40.86.

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

Barrick Mining Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were paid a $0.1750 dividend. The ex-dividend date was Monday, August 31st. This represents a $0.70 annualized dividend and a dividend yield of 1.8%. Barrick Mining’s dividend payout ratio (DPR) is presently 18.04%.

Institutional Trading of Barrick Mining

Several institutional investors and hedge funds have recently modified their holdings of B. Van ECK Associates Corp grew its position in 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 valued at $2,413,699,000 after acquiring an additional 10,287,544 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of 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 acquiring an additional 3,881,841 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Barrick Mining by 1.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 14,992,792 shares of the gold and copper producer’s stock valued at $612,067,000 after purchasing an additional 175,342 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of Barrick Mining by 13.2% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 7,087,570 shares of the gold and copper producer’s stock valued at $258,645,000 after purchasing an additional 824,520 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Barrick Mining by 18.5% during the 4th quarter. Franklin Resources Inc. now owns 6,281,522 shares of the gold and copper producer’s stock valued at $273,569,000 after purchasing an additional 981,345 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors.

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.