Barrick Mining (NYSE:B) Reaches New 1-Year High – Still a Buy?

Barrick Mining Corporation (NYSE:B) (TSE:ABX) reached a new 52-week high during trading on Thursday . The company traded as high as $44.38 and last traded at $44.1690, with a volume of 4480852 shares trading hands. The stock had previously closed at $43.57.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on B. Bank of America raised shares of Barrick Mining from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $38.00 to $48.00 in a research report on Monday, November 24th. Cowen reissued a “buy” rating on shares of Barrick Mining in a report on Wednesday, November 26th. Citigroup raised Barrick Mining from a “hold” rating to a “buy” rating in a report on Monday, November 24th. BMO Capital Markets reiterated a “market perform” rating on shares of Barrick Mining in a research report on Monday, September 22nd. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Barrick Mining in a report on Wednesday, September 24th. 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. Based on data from MarketBeat, Barrick Mining has a consensus rating of “Buy” and a consensus price target of $47.17.

Barrick Mining Stock Up 0.7%

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 firm has a market cap of $73.89 billion, a PE ratio of 21.25, a P/E/G ratio of 0.44 and a beta of 0.40. The stock has a 50-day simple moving average of $36.73 and a two-hundred day simple moving average of $28.98.

Barrick Mining (NYSE:B) (TSE:ABX) last released its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $4.19 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $0.09 EPS. Analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were issued a dividend of $0.175 per share. The ex-dividend date was Friday, November 28th. This represents a $0.70 dividend on an annualized basis and a yield of 1.6%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s dividend payout ratio (DPR) is presently 33.82%.

Institutional Investors Weigh In On Barrick Mining

A number of large investors have recently made changes to their positions in the business. Vermillion Wealth Management Inc. purchased a new stake in Barrick Mining in the second quarter worth $25,000. Crowley Wealth Management Inc. bought a new position in Barrick Mining in the 2nd quarter worth $26,000. Concord Wealth Partners purchased a new stake in shares of Barrick Mining in the 2nd quarter worth about $26,000. Arlington Trust Co LLC bought a new stake in shares of Barrick Mining during the third quarter valued at approximately $26,000. Finally, Ameriflex Group Inc. purchased a new stake in Barrick Mining in the second quarter worth about $27,000. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Company Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.