Barrick Mining (NYSE:B) Shares Down 1.6% – Here’s Why

Barrick Mining Corporation (NYSE:B) (TSE:ABX) dropped 1.6% on Wednesday . The stock traded as low as $44.40 and last traded at $45.4230. Approximately 9,018,355 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 16,031,231 shares. The stock had previously closed at $46.14.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on B shares. ATB Cormark Capital Markets raised shares of Barrick Mining to a “moderate buy” rating in a research note on Monday, February 9th. Wall Street Zen raised shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. Canaccord Genuity Group cut their price objective on shares of Barrick Mining to $77.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $55.00 price target on shares of Barrick Mining in a research note on Sunday, December 7th. Finally, Bank of America raised shares of Barrick Mining from a “neutral” rating to a “buy” rating and upped their target price for the company from $38.00 to $48.00 in a research report on Monday, November 24th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.25.

Barrick Mining Stock Down 4.9%

The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13. The firm’s fifty day simple moving average is $47.99 and its 200 day simple moving average is $39.83. The company has a market cap of $70.88 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 1.39 and a beta of 0.41.

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

Barrick Mining Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.0%. 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. Barrick Mining’s dividend payout ratio is presently 57.34%.

Hedge Funds Weigh In On Barrick Mining

A number of large investors have recently bought and sold shares of the stock. Financial Consulate Inc. grew its position in Barrick Mining by 1,042.0% in the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after acquiring an additional 521 shares in the last quarter. Westside Investment Management Inc. bought a new stake in shares of Barrick Mining in the 4th quarter valued at approximately $25,000. Arlington Trust Co LLC acquired a new stake in shares of Barrick Mining during the third quarter worth $26,000. Intesa Sanpaolo Wealth Management bought a new position in Barrick Mining in the fourth quarter worth about $26,000. Finally, JPL Wealth Management LLC bought a new stake in Barrick Mining in the third quarter valued at $28,000. Hedge funds and other institutional investors 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.