Barrick Mining Corporation (NYSE:B) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) have received a consensus rating of “Buy” from the twenty-two research firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $48.7273.

B has been the topic of several research analyst reports. Canaccord Genuity Group lifted their price objective on Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Citigroup upgraded shares of Barrick Mining from a “hold” rating to a “buy” rating in a report on Monday, November 24th. Wall Street Zen downgraded shares of Barrick Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. BNP Paribas Exane raised shares of Barrick Mining to a “neutral” rating and set a $50.00 price objective for the company in a research report on Friday, December 5th. Finally, TD Securities raised their target price on shares of Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th.

Institutional Investors Weigh In On Barrick Mining

A number of large investors have recently modified their holdings of B. Capital International Investors boosted its holdings in Barrick Mining by 35.9% in 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 acquiring an additional 26,921,219 shares during the period. Vanguard Group Inc. lifted its position in shares of 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 purchasing an additional 767,544 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Barrick Mining in the second quarter valued at $1,091,122,000. First Eagle Investment Management LLC acquired a new stake in Barrick Mining during the 2nd quarter valued at $822,056,000. Finally, TD Asset Management Inc grew its holdings in Barrick Mining by 3.8% during 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 purchasing an additional 715,151 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Stock Up 1.5%

Shares of NYSE B opened at $52.98 on Thursday. The stock has a market capitalization of $88.76 billion, a PE ratio of 25.59, a P/E/G ratio of 0.47 and a beta of 0.41. The company has a quick ratio of 2.33, a current ratio of 2.94 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average of $44.86 and a 200-day moving average of $34.56. Barrick Mining has a 52-week low of $15.70 and a 52-week high of $53.28.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $4.20 billion. Barrick Mining had a return on equity of 9.48% and a net margin of 24.53%.The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 earnings per share. On average, 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 was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.3%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, November 28th. Barrick Mining’s dividend payout ratio is 33.82%.

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.