Investors Purchase Large Volume of Barrick Mining Call Options (NYSE:B)

Barrick Mining Corporation (NYSE:B) (TSE:ABX) saw some unusual options trading activity on Thursday. Stock traders purchased 160,554 call options on the stock. Thisisanincreaseof329% compared to the typical volume of 37,423 call options.

Wall Street Analysts Forecast Growth

B has been the subject of several research reports. Wall Street Zen cut shares of Barrick Mining from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Zacks Research cut shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Royal Bank Of Canada set a $26.00 price target on shares of Barrick Mining and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Cibc World Mkts raised shares of Barrick Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Finally, Scotiabank upped their price target on shares of Barrick Mining from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Barrick Mining has a consensus rating of “Moderate Buy” and a consensus target price of $24.85.

Institutional Trading of Barrick Mining

A number of hedge funds have recently added to or reduced their stakes in B. Vermillion Wealth Management Inc. purchased a new stake in Barrick Mining during the second quarter worth $25,000. Crowley Wealth Management Inc. purchased a new stake in Barrick Mining during the second quarter worth $26,000. Concord Wealth Partners purchased a new stake in Barrick Mining during the second quarter worth $26,000. Ameriflex Group Inc. purchased a new stake in Barrick Mining during the second quarter worth $27,000. Finally, Trifecta Capital Advisors LLC purchased a new stake in Barrick Mining during the second quarter worth $27,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Stock Down 0.6%

NYSE:B opened at $26.28 on Friday. The firm has a market capitalization of $44.84 billion, a P/E ratio of 16.53, a PEG ratio of 0.48 and a beta of 0.27. Barrick Mining has a 1-year low of $15.11 and a 1-year high of $26.79. The company’s fifty day moving average price is $22.38 and its 200-day moving average price is $20.21. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. As a group, equities research analysts anticipate that Barrick Mining will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.15 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.3%. Barrick Mining’s dividend payout ratio is presently 25.16%.

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.