Barrick Mining (NYSE:B) Downgraded by Freedom Broker to “Hold”

Barrick Mining (NYSE:B) (TSE:ABX) was downgraded by investment analysts at Freedom Broker from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a $46.00 target price on the gold and copper producer’s stock, down from their prior target price of $54.00. Freedom Broker‘s target price suggests a potential upside of 20.69% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. UBS Group cut their price objective on shares of Barrick Mining from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Weiss Ratings raised shares of Barrick Mining from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Canadian Imperial Bank of Commerce downgraded shares of Barrick Mining from a “sector outperform” rating to a “neutral” rating and dropped their target price for the stock from $57.00 to $49.00 in a research report on Friday, October 16th. Royal Bank Of Canada upped their price target on shares of Barrick Mining from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Finally, Bank of America decreased their price target on shares of Barrick Mining from $56.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.59.

Barrick Mining Stock Down 1.4%

NYSE:B traded down $0.54 during mid-day trading on Thursday, hitting $38.11. 6,870,053 shares of the company’s stock traded hands, compared to its average volume of 7,055,351. The company has a fifty day moving average of $42.74 and a 200 day moving average of $40.89. Barrick Mining has a twelve month low of $30.98 and a twelve month high of $54.69. The company has a market capitalization of $62.31 billion, a P/E ratio of 9.82, a P/E/G ratio of 1.20 and a beta of 0.48. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.36 and a current ratio of 3.01.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Monday, August 10th. The gold and copper producer reported $0.82 EPS for the quarter, beating 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 company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same period last year, the business posted $0.47 earnings per share. The firm’s revenue was up 43.8% compared to the same quarter last year. On average, analysts forecast that Barrick Mining will post 3.50 EPS for the current year.

Institutional Trading of Barrick Mining

Institutional investors and hedge funds have recently bought and sold shares of the business. Ascentis Independent Advisors acquired a new stake in shares of Barrick Mining in the first quarter worth $28,000. Key Financial Inc raised its holdings in shares of Barrick Mining by 137.5% during the first 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 during the last quarter. Continuum Advisory LLC acquired a new position in Barrick Mining during the second quarter valued at $32,000. Allied Private Wealth LLC acquired a new position in Barrick Mining during the second quarter valued at $35,000. Finally, Root Financial Partners LLC acquired a new position in Barrick Mining during the third quarter valued at $38,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barrick Mining News Summary

Here are the key news stories impacting Barrick Mining this week:

• Positive Sentiment: JPMorgan raised its price target to $55 from $52 and maintained a constructive view of Barrick, implying substantial upside from recent trading levels. JPMorgan raises target for Barrick Mining stock
• Positive Sentiment: RBC Dominion Securities assigned an “outperform” rating and a $53 target, reinforcing the case that Barrick’s valuation does not fully reflect its potential. RBC Dominion Securities rating
• Positive Sentiment: Investors are also watching mine development, production expansion, dividends and share buybacks as possible catalysts for a future revaluation. Barrick Mining catalysts for value revaluation
• Neutral Sentiment: Coverage is assessing whether Barrick’s mine-development pipeline will change its production mix. The impact depends on project execution, timing, capital spending and the profitability of future gold and copper output. Barrick Mining mine development and production mix
• Negative Sentiment: Freedom Broker downgraded Barrick to “hold” and cut its price target to $46 from $54, citing reduced near-term EBITDA expectations, operational risks and valuation concerns. The action contributed to a broader selloff in major gold producers. Freedom Broker downgrades Barrick Mining
• Negative Sentiment: A surge in diesel prices is raising concern about higher mining costs and squeezed margins across the industry, particularly because fuel is a significant variable expense for producers. Diesel price surge putting mining profits to test

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.