Barrick Mining (NYSE:B) Sets New 12-Month High – Time to Buy?

Barrick Mining Corporation (NYSE:B) (TSE:ABX)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $46.72 and last traded at $46.7240, with a volume of 1133125 shares. The stock had previously closed at $45.74.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Cowen reaffirmed a “buy” rating on shares of Barrick Mining in a research note on Wednesday, November 26th. BNP Paribas raised shares of Barrick Mining to a “neutral” rating and set a $50.00 price objective for the company in a research note on Friday, December 5th. Bank of America raised Barrick Mining from a “neutral” rating to a “buy” rating and boosted their price target for the company from $38.00 to $48.00 in a research note on Monday, November 24th. Scotiabank raised shares of Barrick Mining from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $27.50 to $43.00 in a research report on Thursday, October 23rd. Finally, Citigroup upgraded shares of Barrick Mining from a “hold” rating to a “buy” rating in a research note on Monday, November 24th. 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $47.17.

Barrick Mining Stock Performance

The firm’s 50 day moving average price is $39.76 and its 200-day moving average price is $31.25. The firm has a market cap of $78.39 billion, a price-to-earnings ratio of 22.50, a P/E/G ratio of 0.30 and a beta of 0.41. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.94 and a quick ratio of 2.33.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly 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. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same period in the prior year, the firm earned $0.09 EPS. The business’s revenue was up 23.2% on a year-over-year basis. On average, analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were issued a $0.175 dividend. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.70 annualized dividend and a yield of 1.5%. Barrick Mining’s payout ratio is currently 33.82%.

Institutional Investors Weigh In On Barrick Mining

A number of institutional investors have recently bought and sold shares of the business. Fiduciary Financial Group LLC acquired a new stake in shares of Barrick Mining during the 2nd quarter worth about $352,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Barrick Mining in the second quarter valued at approximately $464,000. Fractal Investments LLC acquired a new position in shares of Barrick Mining in the 2nd quarter worth approximately $341,000. Hedges Asset Management LLC bought a new stake in Barrick Mining during the 2nd quarter worth approximately $1,249,000. Finally, Parallel Advisors LLC acquired a new stake in Barrick Mining during the 2nd quarter valued at $76,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

About Barrick Mining

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.