Barrick Mining Corporation (NYSE:B) Receives $24.05 Average Target Price from Analysts

Barrick Mining Corporation (NYSE:B) (TSE:ABX) has been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $24.41.

A number of brokerages have issued reports on B. National Bankshares restated an “outperform” rating on shares of Barrick Mining in a research report on Wednesday, April 2nd. Stifel Canada raised shares of Barrick Mining to a “strong-buy” rating in a research report on Wednesday, March 19th. Citigroup reduced their price objective on shares of Barrick Mining from $21.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, March 31st. BMO Capital Markets assumed coverage on shares of Barrick Mining in a research note on Wednesday, April 16th. They set a “market perform” rating on the stock. Finally, Royal Bank Of Canada set a $26.00 price objective on shares of Barrick Mining and gave the company an “outperform” rating in a research note on Wednesday, July 2nd.

Barrick Mining Stock Performance

Shares of B opened at $21.02 on Friday. The company has a current ratio of 2.87, a quick ratio of 2.16 and a debt-to-equity ratio of 0.14. The stock has a market cap of $35.85 billion, a P/E ratio of 15.80, a PEG ratio of 0.34 and a beta of 0.28. The company has a 50-day moving average of $20.06 and a two-hundred day moving average of $18.67. Barrick Mining has a 12-month low of $17.41 and a 12-month high of $47.50.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 earnings per share. As a group, research analysts predict that Barrick Mining will post 1.47 EPS for the current fiscal year.

Barrick Mining Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.90%. The ex-dividend date was Friday, May 30th. Barrick Mining’s dividend payout ratio (DPR) is 30.08%.

Institutional Investors Weigh In On Barrick Mining

Several large investors have recently made changes to their positions in B. Penserra Capital Management LLC boosted its stake in shares of Barrick Mining by 1,919.0% in the first quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer’s stock valued at $56,000 after purchasing an additional 2,821 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Barrick Mining by 14.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer’s stock valued at $1,141,000 after purchasing an additional 9,149 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Barrick Mining by 24.4% in the first quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer’s stock valued at $404,000 after purchasing an additional 4,082 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Barrick Mining by 25.9% in the first quarter. Janney Montgomery Scott LLC now owns 291,281 shares of the gold and copper producer’s stock valued at $5,663,000 after purchasing an additional 59,906 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of Barrick Mining in the fourth quarter valued at $19,505,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Company Profile

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.