Barrick Mining Corporation (NYSE:B) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) have been assigned an average recommendation of “Moderate Buy” from the twenty-two ratings firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $47.1667.

B has been the subject of several recent analyst reports. National Bank Financial raised shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, September 22nd. Cormark raised Barrick Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 11th. CIBC increased their target price on Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Bank of America raised 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 report on Monday, November 24th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 price objective on shares of Barrick Mining in a report on Sunday, December 7th.

Barrick Mining Price Performance

NYSE B opened at $43.02 on Wednesday. The company has a current ratio of 2.94, a quick ratio of 2.33 and a debt-to-equity ratio of 0.14. Barrick Mining has a 12 month low of $15.11 and a 12 month high of $44.07. The stock has a market cap of $72.44 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 0.44 and a beta of 0.40. The company’s 50 day moving average is $36.16 and its two-hundred day moving average is $28.54.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.20 billion. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 earnings per share. As a group, research analysts anticipate that Barrick Mining will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a dividend of $0.175 per share. The ex-dividend date of this dividend is Friday, November 28th. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a yield of 1.6%. Barrick Mining’s dividend payout ratio is 33.82%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in B. Arlington Trust Co LLC bought a new stake in shares of Barrick Mining in the third quarter worth about $26,000. JPL Wealth Management LLC purchased a new position in Barrick Mining during the 3rd quarter valued at approximately $28,000. Pin Oak Investment Advisors Inc. bought a new stake in Barrick Mining in the 3rd quarter worth approximately $31,000. Provenance Wealth Advisors LLC purchased a new stake in shares of Barrick Mining during the 3rd quarter worth approximately $32,000. Finally, Investors Research Corp purchased a new stake in shares of Barrick Mining during the 3rd quarter worth approximately $36,000. Institutional investors 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.