Barrick Mining (NYSE:B) Stock Price Up 1.7% – Here’s Why

Barrick Mining Corporation (NYSE:B) (TSE:ABX) shares rose 1.7% on Monday . The stock traded as high as $43.48 and last traded at $43.05. Approximately 12,602,948 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 15,778,875 shares. The stock had previously closed at $42.34.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on B. BNP Paribas Exane raised Barrick Mining to a “neutral” rating and set a $50.00 price target on the stock in a research report on Friday, December 5th. Bank of America upgraded 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 note on Monday, November 24th. Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 price target on shares of Barrick Mining in a research note on Sunday, December 7th. Zacks Research downgraded Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $71.00 price target on shares of Barrick Mining in a research note on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Barrick Mining presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.25.

Barrick Mining Stock Performance

The stock has a market capitalization of $72.12 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 1.32 and a beta of 0.41. The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average of $47.96 and a 200-day moving average of $40.12.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.19. The company had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The business’s quarterly revenue was up 44.6% on a year-over-year basis. As a group, sell-side analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.9%. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, February 27th. Barrick Mining’s dividend payout ratio is presently 57.34%.

Hedge Funds Weigh In On Barrick Mining

Hedge funds and other institutional investors have recently bought and sold shares of the business. Financial Consulate Inc. boosted its holdings in shares of Barrick Mining by 1,042.0% in the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after acquiring an additional 521 shares during the last quarter. Westside Investment Management Inc. purchased a new position in shares of Barrick Mining during the fourth quarter worth $25,000. Arlington Trust Co LLC purchased a new position in shares of Barrick Mining during the third quarter worth $26,000. Intesa Sanpaolo Wealth Management acquired a new position in Barrick Mining during the fourth quarter valued at $26,000. Finally, JPL Wealth Management LLC acquired a new position in Barrick Mining during the third quarter valued at $28,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

About Barrick Mining

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.