Barrick Mining Corporation (NYSE:B) Stock Has Consensus Price Target of $52.90

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) have earned a consensus rating of “Moderate Buy” from the twenty brokerages that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $53.39.

A number of research analysts have weighed in on the stock. Canadian Imperial Bank of Commerce set a $57.00 target price on shares of Barrick Mining in a research note on Wednesday, August 12th. JPMorgan Chase & Co. lifted their price target on Barrick Mining from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Bank of America lowered their price target on shares of Barrick Mining from $56.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Weiss Ratings raised shares of Barrick Mining from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday. Finally, Citigroup upped their price objective on shares of Barrick Mining from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd.

Hedge Funds Weigh In On Barrick Mining

Institutional investors and hedge funds have recently bought and sold shares of the company. Ascentis Independent Advisors purchased a new stake in shares of Barrick Mining in the first quarter valued at $28,000. Motiv8 Investments LLC purchased a new stake in Barrick Mining during the 4th quarter worth about $31,000. Key Financial Inc increased its position in Barrick Mining by 137.5% during the 1st quarter. Key Financial Inc now owns 753 shares of the gold and copper producer’s stock worth $31,000 after purchasing an additional 436 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Barrick Mining during the 4th quarter worth about $37,000. Finally, Continuum Advisory LLC acquired a new position in Barrick Mining in the 2nd quarter valued at about $32,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barrick Mining Stock Performance

NYSE B opened at $40.87 on Tuesday. The company has a market cap of $66.81 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 1.20 and a beta of 0.48. The stock’s 50 day simple moving average is $42.95 and its 200-day simple moving average is $40.91. Barrick Mining has a 1-year low of $30.35 and a 1-year high of $54.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.36.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%. The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period in the previous year, the company posted $0.47 earnings per share. The business’s revenue was up 43.8% on a year-over-year basis. As a group, equities research analysts anticipate that Barrick Mining will post 3.48 EPS for the current fiscal year.

Barrick Mining Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were paid a dividend of $0.1750 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.70 dividend on an annualized basis and a yield of 1.7%. Barrick Mining’s payout ratio is 18.04%.

About Barrick Mining

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.