Barrick Mining Corporation (NYSE:B) Receives $24.05 Consensus Price Target from Analysts

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) have been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $24.41.

B has been the topic of several analyst reports. Scotiabank raised their price target on shares of Barrick Mining from $20.00 to $22.00 and gave the company a “sector perform” rating in a research report on Monday, April 14th. Citigroup dropped their target price on shares of Barrick Mining from $21.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, March 31st. Royal Bank Of Canada set a $26.00 target price on shares of Barrick Mining and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Stifel Canada upgraded shares of Barrick Mining to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, UBS Group lifted their target price on shares of Barrick Mining from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, April 11th.

Barrick Mining Price Performance

NYSE B opened at $21.02 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 2.16. The stock’s fifty day moving average price is $20.06 and its 200 day moving average price is $18.67. Barrick Mining has a 1 year low of $17.41 and a 1 year high of $47.50. The company has a market cap of $35.85 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 0.34 and a beta of 0.28.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.15 billion. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 earnings per share. As a group, equities research analysts forecast that Barrick Mining will post 1.47 earnings per share for the current year.

Barrick Mining Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, May 30th. Barrick Mining’s payout ratio is 30.08%.

Institutional Trading of Barrick Mining

A number of large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its position in Barrick Mining by 16.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 19,198 shares of the gold and copper producer’s stock worth $298,000 after buying an additional 2,759 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in Barrick Mining by 8.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 16,713 shares of the gold and copper producer’s stock worth $259,000 after buying an additional 1,248 shares during the last quarter. Commonwealth Equity Services LLC raised its position in Barrick Mining by 2.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 671,039 shares of the gold and copper producer’s stock worth $10,401,000 after buying an additional 15,915 shares during the last quarter. Madison Investment Advisors LLC purchased a new position in shares of Barrick Mining in the 4th quarter valued at about $9,757,000. Finally, one8zero8 LLC purchased a new position in shares of Barrick Mining in the 4th quarter valued at about $224,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Company Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.