Barrick Mining (NYSE:B) Trading Up 1.3% – Should You Buy?

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) shot up 1.3% during trading on Wednesday . The company traded as high as $44.04 and last traded at $43.4750. 10,291,242 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 19,768,098 shares. The stock had previously closed at $42.93.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a research note on Monday. Zacks Research upgraded Barrick Mining from a “hold” rating to a “strong-buy” rating in a research report on Monday. Wall Street Zen lowered Barrick Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Jefferies Financial Group restated a “buy” rating and set a $55.00 target price on shares of Barrick Mining in a research report on Sunday, December 7th. Finally, National Bank Financial raised Barrick Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, September 22nd. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $47.17.

Barrick Mining Trading Up 2.1%

The company has a market capitalization of $75.38 billion, a P/E ratio of 21.63, a PEG ratio of 0.45 and a beta of 0.40. 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 fifty day moving average of $37.19 and a 200 day moving average of $29.26.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly 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 business had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same quarter in the prior year, the business posted $0.09 earnings per share. The business’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, equities research analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

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

Hedge Funds Weigh In On Barrick Mining

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