Barrick Mining (NYSE:B) Upgraded by Barclays to Hold Rating

Barclays upgraded shares of Barrick Mining (NYSE:B) (TSE:ABX) to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

A number of other brokerages also recently commented on B. Scotiabank increased their price target on Barrick Mining from $43.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce decreased their price objective on shares of Barrick Mining to $63.00 and set an “outperformer” rating for the company in a report on Tuesday, April 21st. UBS Group boosted their target price on shares of Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Wall Street Zen upgraded shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. Finally, Weiss Ratings downgraded Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $53.46.

Barrick Mining Price Performance

Shares of NYSE:B opened at $40.64 on Thursday. Barrick Mining has a 1-year low of $18.58 and a 1-year high of $54.69. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13. The stock has a market cap of $68.10 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 1.12 and a beta of 0.41. The stock’s fifty day simple moving average is $41.26 and its two-hundred day simple moving average is $43.27.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating the consensus estimate of $0.80 by $0.18. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.75 billion. The company’s quarterly revenue was up 66.7% on a year-over-year basis. As a group, analysts forecast that Barrick Mining will post 3.7 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, May 29th. Barrick Mining’s payout ratio is currently 46.41%.

Hedge Funds Weigh In On Barrick Mining

Several hedge funds have recently made changes to their positions in B. Financial Consulate Inc. lifted its holdings in Barrick Mining by 1,042.0% during the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after purchasing an additional 521 shares in the last quarter. Westside Investment Management Inc. bought a new stake in shares of Barrick Mining during the fourth quarter valued at about $25,000. Intesa Sanpaolo Wealth Management purchased a new stake in shares of Barrick Mining in the fourth quarter worth about $26,000. Ascentis Independent Advisors bought a new position in shares of Barrick Mining in the first quarter valued at approximately $28,000. Finally, JPL Wealth Management LLC purchased a new position in Barrick Mining during the third quarter valued at approximately $28,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

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.