Barrick Mining (NYSE:B) Hits New 1-Year High – What’s Next?

Barrick Mining Corporation (NYSE:B) (TSE:ABX) shares hit a new 52-week high during trading on Monday . The stock traded as high as $49.74 and last traded at $49.3630, with a volume of 1789022 shares trading hands. The stock had previously closed at $47.81.

Analysts Set New Price Targets

A number of research firms recently weighed in on B. Canaccord Genuity Group upped their price target on Barrick Mining from $39.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Bank of America raised Barrick Mining from a “neutral” rating to a “buy” rating and upped their target price for the stock from $38.00 to $48.00 in a research report on Monday, November 24th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Barrick Mining in a report on Wednesday, September 24th. Zacks Research raised shares of Barrick Mining from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 15th. Finally, Jefferies Financial Group restated a “buy” rating and set a $55.00 price target on shares of Barrick Mining in a research note on Sunday, December 7th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $47.17.

Barrick Mining Stock Performance

The company has a market cap of $83.23 billion, a PE ratio of 23.83, a PEG ratio of 0.40 and a beta of 0.41. The company has a quick ratio of 2.33, a current ratio of 2.94 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $40.97 and a 200-day moving average of $32.00.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.20 billion. Barrick Mining had a return on equity of 9.48% and a net margin of 24.53%.Barrick Mining’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 EPS. As a group, analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were given a dividend of $0.175 per share. The ex-dividend date of this dividend was Friday, November 28th. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.4%. Barrick Mining’s payout ratio is 33.82%.

Institutional Investors Weigh In On Barrick Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arlington Trust Co LLC purchased a new position in shares of Barrick Mining in the 3rd quarter worth approximately $26,000. JPL Wealth Management LLC purchased a new stake in shares of Barrick Mining during the third quarter valued at approximately $28,000. Pin Oak Investment Advisors Inc. bought a new stake in Barrick Mining during the third quarter worth $31,000. Provenance Wealth Advisors LLC bought a new stake in Barrick Mining during the third quarter worth $32,000. Finally, Investors Research Corp purchased a new position in Barrick Mining in the third quarter worth $36,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

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.