Barrick Mining (NYSE:B) Shares Gap Down – Here’s What Happened

Barrick Mining Corporation (NYSE:B) (TSE:ABX)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $46.21, but opened at $43.74. Barrick Mining shares last traded at $43.6020, with a volume of 2,999,094 shares traded.

Analyst Ratings Changes

A number of brokerages have recently commented on B. TD Securities lifted their price target on shares of Barrick Mining from $38.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Barrick Mining from a “hold” rating to a “strong-buy” rating in a report on Monday, December 15th. Raymond James Financial boosted their target price on shares of Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, November 25th. CIBC raised their price target on Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Finally, Canaccord Genuity Group upped their price objective on Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $47.17.

Barrick Mining Stock Performance

The business’s 50-day moving average price is $38.78 and its 200-day moving average price is $30.61. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.33 and a current ratio of 2.94. The stock has a market cap of $74.46 billion, a P/E ratio of 21.36, a P/E/G ratio of 0.45 and a beta of 0.40.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a return on equity of 9.48% and a net margin of 24.53%.The company had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $4.20 billion. During the same period last year, the firm earned $0.09 EPS. Barrick Mining’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, sell-side analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

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

Institutional Trading of Barrick Mining

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Capital International Investors boosted its holdings in Barrick Mining by 35.9% in the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock worth $3,340,709,000 after buying an additional 26,921,219 shares during the period. Vanguard Group Inc. lifted its position in shares of Barrick Mining by 1.1% in the third quarter. Vanguard Group Inc. now owns 70,878,168 shares of the gold and copper producer’s stock valued at $2,327,991,000 after acquiring an additional 767,544 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Barrick Mining in the second quarter worth about $1,091,122,000. First Eagle Investment Management LLC bought a new position in shares of Barrick Mining in the second quarter worth about $822,056,000. Finally, TD Asset Management Inc grew its position in shares of Barrick Mining by 3.8% during the third quarter. TD Asset Management Inc now owns 19,309,335 shares of the gold and copper producer’s stock worth $634,346,000 after purchasing an additional 715,151 shares in the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

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.