Barrick Mining’s (B) “Buy (B-)” Rating Reaffirmed at Weiss Ratings

Weiss Ratings reiterated their buy (b-) rating on shares of Barrick Mining (NYSE:B) (TSE:ABX) in a report issued on Tuesday morning,Weiss Ratings reports.

A number of other research analysts have also commented on the company. Royal Bank Of Canada increased their price objective on Barrick Mining from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Cibc World Mkts upgraded Barrick Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Bank of America increased their price objective on Barrick Mining from $29.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, September 19th. National Bankshares upgraded Barrick Mining to an “outperform” rating in a research report on Monday, September 22nd. Finally, Raymond James Financial set a $40.00 price target on Barrick Mining and gave the stock an “outperform” rating in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Barrick Mining has an average rating of “Moderate Buy” and a consensus price target of $38.10.

Barrick Mining Stock Down 0.2%

Shares of B opened at $33.34 on Tuesday. The firm has a market capitalization of $56.77 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 0.55 and a beta of 0.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. The business’s fifty day moving average price is $29.02 and its two-hundred day moving average price is $23.15. Barrick Mining has a 52 week low of $15.11 and a 52 week high of $36.10.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, meeting 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 return on equity of 8.19% and a net margin of 19.99%.The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the company earned $0.32 EPS. On average, analysts predict that Barrick Mining will post 1.47 earnings per share for the current year.

Barrick Mining Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining’s payout ratio is presently 37.74%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in B. GAMMA Investing LLC grew its stake in 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 valued at $117,000 after acquiring an additional 5,698 shares during the period. Farther Finance Advisors LLC grew its stake in 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 valued at $62,000 after acquiring an additional 563 shares during the period. Fifth Third Bancorp grew its stake in 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 valued at $110,000 after acquiring an additional 1,266 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake 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 valued at $1,454,000 after acquiring an additional 1,156 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake 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 valued at $3,181,000 after acquiring an additional 159,461 shares during the period. 90.82% of the stock is 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.