Barrick Mining (NYSE:B) Upgraded at DZ Bank

DZ Bank upgraded shares of Barrick Mining (NYSE:B) (TSE:ABX) to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also recently issued reports on the company. Citigroup raised Barrick Mining from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Bank of America upgraded Barrick Mining from a “neutral” rating to a “buy” rating and lifted their price target for the company from $38.00 to $48.00 in a report on Monday, November 24th. TD Securities boosted their price target on Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Cormark upgraded Barrick Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 11th. Finally, National Bank Financial upgraded shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 22nd. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $46.91.

Barrick Mining Stock Performance

Shares of B opened at $49.06 on Monday. The company’s 50 day moving average price is $43.44 and its 200 day moving average price is $33.51. Barrick Mining has a 52 week low of $15.47 and a 52 week high of $50.80. The company has a market capitalization of $82.19 billion, a PE ratio of 23.70, a PEG ratio of 0.41 and a beta of 0.41. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.33 and a current ratio of 2.94.

Barrick Mining (NYSE:B) (TSE:ABX) last released its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The company had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter in the prior year, the firm earned $0.09 EPS. The company’s revenue was up 23.2% compared to the same quarter last year. Research analysts expect that Barrick Mining will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a $0.175 dividend. The ex-dividend date was Friday, November 28th. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a dividend yield of 1.4%. Barrick Mining’s dividend payout ratio is 33.82%.

Institutional Trading of Barrick Mining

A number of hedge funds have recently bought and sold shares of B. Capital International Investors increased its holdings in shares of Barrick Mining by 35.9% during the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock worth $3,340,709,000 after purchasing an additional 26,921,219 shares during the period. Vanguard Group Inc. grew its position in Barrick Mining by 1.1% during the third quarter. Vanguard Group Inc. now owns 70,878,168 shares of the gold and copper producer’s stock worth $2,327,991,000 after buying an additional 767,544 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Barrick Mining during the second quarter valued at about $1,091,122,000. First Eagle Investment Management LLC acquired a new position in Barrick Mining in the 2nd quarter valued at approximately $822,056,000. Finally, TD Asset Management Inc raised its holdings in Barrick Mining by 3.8% in the 3rd quarter. TD Asset Management Inc now owns 19,309,335 shares of the gold and copper producer’s stock valued at $634,346,000 after acquiring an additional 715,151 shares in the last quarter. 90.82% of the stock is owned by institutional investors.

Barrick Mining Company Profile

Barrick Gold Corporation, commonly known as Barrick, is a Toronto‑headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large‑scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.

The company’s activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.