Barrick Mining (NYSE:B) Raised to Strong-Buy at Wall Street Zen

Barrick Mining (NYSE:B) (TSE:ABX) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Several other analysts have also recently commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a research note on Saturday, September 27th. National Bank Financial raised shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 22nd. Zacks Research lowered 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 upped their price target on shares of Barrick Mining from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Barrick Mining in a research report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.10.

Barrick Mining Trading Down 1.0%

Shares of Barrick Mining stock opened at $32.73 on Friday. The company has a market capitalization of $55.72 billion, a P/E ratio of 20.58, a PEG ratio of 0.54 and a beta of 0.30. The company’s fifty day moving average is $28.58 and its two-hundred day moving average is $22.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. Barrick Mining has a 1 year low of $15.11 and a 1 year high of $36.10.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, meeting 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 business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. Analysts forecast that Barrick Mining will post 1.47 earnings per share for the current year.

Institutional Trading of Barrick Mining

A number of hedge funds have recently made changes to their positions in B. GAMMA Investing LLC lifted its position in shares of Barrick Mining by 1,844.0% in the first quarter. GAMMA Investing LLC now owns 6,007 shares of the gold and copper producer’s stock worth $117,000 after purchasing an additional 5,698 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Barrick Mining by 21.8% in the first quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer’s stock worth $62,000 after acquiring an additional 563 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Barrick Mining by 28.9% in the first quarter. Fifth Third Bancorp now owns 5,644 shares of the gold and copper producer’s stock worth $110,000 after acquiring an additional 1,266 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Barrick Mining by 1.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 74,792 shares of the gold and copper producer’s stock worth $1,454,000 after purchasing an additional 1,156 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in Barrick Mining by 3,816.7% in the first quarter. Exchange Traded Concepts LLC now owns 163,639 shares of the gold and copper producer’s stock worth $3,181,000 after purchasing an additional 159,461 shares during the period. 90.82% of the stock is owned by hedge funds and other institutional investors.

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.