Barrick Mining (NYSE:B) Stock Rating Upgraded by Cormark

Barrick Mining (NYSE:B) (TSE:ABX) was upgraded by equities researchers at Cormark from a “hold” rating to a “moderate buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other equities analysts have also weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Barrick Mining in a report on Wednesday, November 5th. Bank of America boosted their price objective on Barrick Mining from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Raymond James Financial set a $40.00 target price on Barrick Mining and gave the stock an “outperform” rating in a research report on Friday, October 10th. Royal Bank Of Canada raised their target price on Barrick Mining from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Barrick Mining in a report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Barrick Mining presently has an average rating of “Moderate Buy” and a consensus price target of $42.90.

Barrick Mining Stock Performance

Shares of NYSE:B opened at $35.78 on Tuesday. The business has a 50-day moving average of $32.28 and a two-hundred day moving average of $25.13. The firm has a market capitalization of $60.38 billion, a PE ratio of 22.50, a P/E/G ratio of 0.40 and a beta of 0.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53. Barrick Mining has a 12 month low of $15.11 and a 12 month high of $36.40.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The business had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same quarter in the previous year, the business earned $0.09 EPS. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, research analysts forecast that Barrick Mining will post 1.47 earnings per share for the current year.

Hedge Funds Weigh In On Barrick Mining

A number of hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in Barrick Mining by 18.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 828,666 shares of the gold and copper producer’s stock worth $16,109,000 after buying an additional 126,643 shares during the last quarter. Cerity Partners LLC boosted its stake in Barrick Mining by 47.4% in the first quarter. Cerity Partners LLC now owns 136,786 shares of the gold and copper producer’s stock valued at $2,659,000 after acquiring an additional 44,002 shares during the period. New York State Common Retirement Fund raised its position in shares of Barrick Mining by 15.5% during the 1st quarter. New York State Common Retirement Fund now owns 194,806 shares of the gold and copper producer’s stock worth $3,787,000 after purchasing an additional 26,170 shares during the period. Bleakley Financial Group LLC grew its stake in Barrick Mining by 5.5% during the 1st quarter. Bleakley Financial Group LLC now owns 26,366 shares of the gold and copper producer’s stock worth $513,000 after buying an additional 1,375 shares during the last quarter. Finally, Sigma Planning Corp lifted its stake in Barrick Mining by 22.2% in the first quarter. Sigma Planning Corp now owns 14,127 shares of the gold and copper producer’s stock valued at $275,000 after buying an additional 2,567 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

About Barrick Mining

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.