JPMorgan Chase & Co. Begins Coverage on Barrick Mining (NYSE:B)

Analysts at JPMorgan Chase & Co. assumed coverage on shares of Barrick Mining (NYSE:B) (TSE:ABX) in a report released on Thursday. The brokerage set an “overweight” rating and a $68.00 price target on the gold and copper producer’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 28.36% from the stock’s previous close.

Several other brokerages have also recently weighed in on B. Wall Street Zen cut Barrick Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Royal Bank Of Canada upped 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. TD Securities increased their target price on shares of Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Bank of America upgraded shares of Barrick Mining from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $38.00 to $48.00 in a research report on Monday, November 24th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $55.00 price objective on shares of Barrick Mining in a research report on Sunday, December 7th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Barrick Mining currently has an average rating of “Buy” and a consensus price target of $50.33.

Barrick Mining Stock Performance

Shares of Barrick Mining stock opened at $52.98 on Thursday. The company’s 50 day moving average price is $44.86 and its two-hundred day moving average price is $34.56. The firm has a market capitalization of $88.76 billion, a P/E ratio of 25.59, a P/E/G ratio of 0.47 and a beta of 0.41. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.94 and a quick ratio of 2.33. Barrick Mining has a fifty-two week low of $15.70 and a fifty-two week high of $53.28.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $4.20 billion. During the same quarter last year, the business posted $0.09 EPS. Barrick Mining’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, equities analysts forecast that Barrick Mining will post 1.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in B. Farther Finance Advisors LLC purchased a new position in shares of Barrick Mining in the 2nd quarter worth about $215,000. Fifth Third Bancorp purchased a new position in shares of Barrick Mining during the 2nd quarter valued at $132,000. GC Wealth Management RIA LLC bought a new position in shares of Barrick Mining in the second quarter worth approximately $273,000. Greenleaf Trust bought a new position in Barrick Mining in the second quarter valued at $546,000. Finally, Truist Financial Corp bought a new position in Barrick Mining in the second quarter valued at $926,000. 90.82% of the stock is 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.