Analysts Set Barrick Mining Corporation (NYSE:B) Price Target at $24.41

Barrick Mining Corporation (NYSE:B) (TSE:ABX) has earned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $24.4091.

Several equities analysts have recently weighed in on the company. CIBC upgraded Barrick Mining to an “outperform” rating in a report on Tuesday. Scotiabank lifted their price objective on Barrick Mining from $20.00 to $22.00 and gave the stock a “sector perform” rating in a report on Monday, April 14th. Royal Bank Of Canada set a $26.00 price objective on Barrick Mining and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. BMO Capital Markets began coverage on Barrick Mining in a report on Wednesday, April 16th. They issued a “market perform” rating for the company. Finally, Wall Street Zen downgraded Barrick Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday.

Barrick Mining Price Performance

Shares of NYSE:B opened at $22.84 on Thursday. Barrick Mining has a 1-year low of $15.11 and a 1-year high of $23.53. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 2.16. The business has a fifty day moving average price of $21.23 and a 200-day moving average price of $19.49. The company has a market capitalization of $38.96 billion, a PE ratio of 17.17, a PEG ratio of 0.36 and a beta of 0.27.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same period last year, the company earned $0.32 earnings per share. The company’s revenue was up 16.4% on a year-over-year basis. As a group, equities analysts expect that Barrick Mining will post 1.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Barrick Mining

A number of large investors have recently made changes to their positions in B. TD Waterhouse Canada Inc. purchased a new stake in Barrick Mining in the second quarter worth about $6,769,000. Portside Wealth Group LLC bought a new position in shares of Barrick Mining during the 2nd quarter valued at approximately $586,000. Empowered Funds LLC bought a new position in shares of Barrick Mining during the 2nd quarter valued at approximately $3,924,000. Vanguard Group Inc. bought a new position in shares of Barrick Mining during the 2nd quarter valued at approximately $1,459,633,000. Finally, Mount Lucas Management LP bought a new position in shares of Barrick Mining during the 2nd quarter valued at approximately $552,000. 90.82% of the stock is currently owned by institutional investors.

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.