TD Securities Issues Positive Forecast for Barrick Mining (NYSE:B) Stock Price

Barrick Mining (NYSE:B) (TSE:ABX) had its price objective boosted by TD Securities from $30.00 to $38.00 in a research note issued to investors on Monday,BayStreet.CA reports. TD Securities currently has a buy rating on the gold and copper producer’s stock.

Several other research analysts also recently weighed in on B. Zacks Research downgraded shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Bank of America boosted their price objective on shares of Barrick Mining from $29.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday. 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. National Bank Financial raised shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday. Finally, Scotiabank boosted their price objective on shares of Barrick Mining from $25.00 to $26.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Barrick Mining Stock Performance

Barrick Mining stock opened at $35.37 on Monday. The firm’s 50 day simple moving average is $25.12 and its 200-day simple moving average is $21.54. The company has a market cap of $60.23 billion, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 0.58 and a beta of 0.27. 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 has a fifty-two week low of $15.11 and a fifty-two week high of $35.70.

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

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, August 29th. Barrick Mining’s dividend payout ratio is presently 37.74%.

Hedge Funds Weigh In On Barrick Mining

Several large investors have recently bought and sold shares of B. Vermillion Wealth Management Inc. acquired a new position in Barrick Mining during the 2nd quarter valued at $25,000. Crowley Wealth Management Inc. acquired a new position in Barrick Mining during the 2nd quarter valued at $26,000. Concord Wealth Partners bought a new stake in Barrick Mining in the 2nd quarter valued at $26,000. Ameriflex Group Inc. bought a new stake in Barrick Mining in the 2nd quarter valued at $27,000. Finally, Trifecta Capital Advisors LLC bought a new stake in Barrick Mining in the 2nd quarter valued at $27,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

About Barrick Mining

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.