Barrick Mining (NYSE:B) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of Barrick Mining (NYSE:B) (TSE:ABX) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning.

B has been the topic of several other reports. Scotiabank increased their target price on shares of Barrick Mining from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Monday, April 14th. Royal Bank Of Canada set a $26.00 price objective on shares of Barrick Mining and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. UBS Group upped their price objective on shares of Barrick Mining from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, April 11th. BMO Capital Markets started coverage on shares of Barrick Mining in a report on Wednesday, April 16th. They issued a “market perform” rating for the company. Finally, CIBC increased their target price on shares of Barrick Mining from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.41.

Barrick Mining Trading Down 2.5%

B opened at $22.84 on Friday. Barrick Mining has a fifty-two week low of $15.11 and a fifty-two week 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 firm has a market capitalization of $38.96 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 0.36 and a beta of 0.27. The company’s 50 day moving average price is $21.23 and its two-hundred day moving average price is $19.49.

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

Institutional Investors Weigh In On Barrick Mining

A number of hedge funds have recently made changes to their positions in the business. Penserra Capital Management LLC increased 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 worth $56,000 after buying an additional 2,821 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Barrick Mining by 14.2% during 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 in the last quarter. Sequoia Financial Advisors LLC grew its position in Barrick Mining by 24.4% during the 1st 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 last quarter. Janney Montgomery Scott LLC grew its position in Barrick Mining by 25.9% during the 1st 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 last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Barrick Mining during the 4th quarter valued at about $19,505,000. 90.82% of the stock is currently owned by institutional investors.

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.