Barrick Mining Corporation (NYSE:B) Shares to Pay Quarterly Dividend of $0.17

Barrick Mining Corporation (NYSE:B) (TSE:ABX) declared a quarterly dividend on Monday, November 9th. Shareholders of record on Monday, November 30th will be given a dividend of $0.1750 per share by the gold and copper producer on Tuesday, December 15th. This represents a $0.70 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, November 30th.

Barrick Mining has a dividend payout ratio of 31.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Barrick Mining to earn $4.06 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 17.2%.

Barrick Mining Stock Performance

Shares of B stock opened at $42.38 on Tuesday. The company has a market cap of $69.01 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 1.25 and a beta of 0.52. The stock has a 50 day simple moving average of $41.25 and a 200-day simple moving average of $41.95. Barrick Mining has a 12-month low of $34.03 and a 12-month high of $54.69. The company has a current ratio of 3.01, a quick ratio of 2.36 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings results on Monday, November 9th. The gold and copper producer reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the previous year, the business earned $0.58 earnings per share. The company’s revenue for the quarter was up 22.3% compared to the same quarter last year. On average, equities analysts forecast that Barrick Mining will post 3.49 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Royal Bank Of Canada boosted their target price on shares of Barrick Mining from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. Bank of America decreased their price objective on shares of Barrick Mining from $56.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. JPMorgan Chase & Co. upped their target price on shares of Barrick Mining from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 21st. Freedom Broker cut shares of Barrick Mining from a “buy” rating to a “hold” rating and dropped their target price for the company from $54.00 to $46.00 in a report on Thursday, October 22nd. Finally, Barclays lifted their price target on shares of Barrick Mining from $39.00 to $42.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.59.

Barrick Mining Company Profile

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the exploration, development and production of gold and copper. Its activities include operating mines, advancing development projects and managing mineral reserves across multiple jurisdictions.

The company’s gold operations include Nevada Gold Mines in the United States, a joint venture in which Barrick is the operator, as well as mines and projects in Canada, the Dominican Republic, Mali, Côte d’Ivoire, Tanzania and the Democratic Republic of the Congo.