Barrick Mining (NYSE:B) Stock Price Up 1.8% – Time to Buy?

Barrick Mining Corporation (NYSE:B) (TSE:ABX) was up 1.8% during mid-day trading on Wednesday . The company traded as high as $48.09 and last traded at $47.7770. Approximately 14,508,472 shares changed hands during trading, a decline of 15% from the average daily volume of 17,009,572 shares. The stock had previously closed at $46.95.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on B shares. Scotiabank upped their target price on shares of Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Cormark raised shares of Barrick Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 11th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $71.00 price objective on shares of Barrick Mining in a report on Wednesday, February 4th. Wall Street Zen raised Barrick Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Bank of America upgraded Barrick Mining from a “neutral” rating to a “buy” rating and increased their price target for the stock from $38.00 to $48.00 in a research report on Monday, November 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.58.

Barrick Mining Trading Up 1.8%

The company has a quick ratio of 2.33, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $80.04 billion, a P/E ratio of 16.31, a P/E/G ratio of 0.39 and a beta of 0.40. The firm’s 50-day moving average price is $46.12 and its 200 day moving average price is $36.28.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.19. The business had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The company’s revenue for the quarter was up 44.6% compared to the same quarter last year. As a group, equities research analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.18. This represents a $1.68 annualized dividend and a dividend yield of 3.5%. Barrick Mining’s payout ratio is presently 57.34%.

Hedge Funds Weigh In On Barrick Mining

Several large investors have recently bought and sold shares of B. Capital International Investors grew its stake in shares of 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 in the last quarter. Vanguard Group Inc. grew its position in Barrick Mining by 1.1% in the 3rd 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 bought a new stake in Barrick Mining in the 2nd quarter worth about $1,091,122,000. First Eagle Investment Management LLC purchased a new stake in Barrick Mining in the 2nd quarter valued at about $822,056,000. Finally, TD Asset Management Inc lifted its position in shares of Barrick Mining by 5.6% during the 4th quarter. TD Asset Management Inc now owns 20,395,667 shares of the gold and copper producer’s stock worth $889,627,000 after buying an additional 1,086,332 shares in the last quarter. 90.82% of the stock is currently 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.