Barrick Mining Corporation (NYSE:B) Receives $42.90 Consensus Target Price from Brokerages

Barrick Mining Corporation (NYSE:B) (TSE:ABX) has been given a consensus recommendation of “Moderate Buy” by the eighteen ratings firms that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $42.90.

Several equities research analysts have recently issued reports on the company. National Bank Financial raised Barrick Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 22nd. Wall Street Zen downgraded Barrick Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Citigroup raised their target price on Barrick Mining from $21.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. National Bankshares upgraded Barrick Mining to an “outperform” rating in a report on Monday, September 22nd. Finally, TD Securities increased their price objective on Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th.

Barrick Mining Trading Down 0.1%

NYSE:B opened at $36.99 on Friday. The company’s 50 day moving average is $33.00 and its 200-day moving average is $25.64. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. Barrick Mining has a 12 month low of $15.11 and a 12 month high of $38.16. The firm has a market cap of $62.42 billion, a price-to-earnings ratio of 23.26, a P/E/G ratio of 0.40 and a beta of 0.28.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.20 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. Barrick Mining’s revenue was up 23.2% compared to the same quarter last year. During the same period last year, the business posted $0.09 EPS. Equities analysts anticipate that Barrick Mining will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, November 28th. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s payout ratio is presently 33.82%.

Hedge Funds Weigh In On Barrick Mining

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arlington Trust Co LLC acquired a new stake in Barrick Mining in the 3rd quarter valued at about $26,000. JPL Wealth Management LLC acquired a new stake in shares of Barrick Mining in the third quarter valued at approximately $28,000. Pin Oak Investment Advisors Inc. bought a new position in Barrick Mining in the 3rd quarter worth approximately $31,000. Provenance Wealth Advisors LLC acquired a new position in Barrick Mining during the 3rd quarter worth $32,000. Finally, Investors Research Corp bought a new position in Barrick Mining in the 3rd quarter valued at $36,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

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.