Barrick Mining (NYSE:B) Trading 1.2% Higher – Still a Buy?

Barrick Mining Corporation (NYSE:B) (TSE:ABX) shares shot up 1.2% during trading on Tuesday . The company traded as high as $50.28 and last traded at $49.6290. 12,750,350 shares were traded during trading, a decline of 6% from the average session volume of 13,558,696 shares. The stock had previously closed at $49.03.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on B. TD Securities boosted their price objective on Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $55.00 target price on shares of Barrick Mining in a report on Sunday, December 7th. BNP Paribas upgraded shares of Barrick Mining to a “neutral” rating and set a $50.00 price target for the company in a research note on Friday, December 5th. Scotiabank raised shares of Barrick Mining from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $27.50 to $43.00 in a research report on Thursday, October 23rd. Finally, Cormark raised shares of Barrick Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 11th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $47.17.

Barrick Mining Price Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 2.94 and a quick ratio of 2.33. The company has a 50 day moving average price of $41.29 and a 200 day moving average price of $32.20. The firm has a market cap of $83.56 billion, a PE ratio of 23.98, a PEG ratio of 0.40 and a beta of 0.41.

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, beating the consensus estimate of $0.57 by $0.01. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The company had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $4.20 billion. During the same period in the previous year, the company posted $0.09 EPS. Barrick Mining’s revenue was up 23.2% compared to the same quarter last year. Sell-side analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were issued a dividend of $0.175 per share. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, November 28th. Barrick Mining’s dividend payout ratio is currently 33.82%.

Hedge Funds Weigh In On Barrick Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in B. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Barrick Mining in the 2nd quarter valued at approximately $464,000. Parallel Advisors LLC purchased a new position in Barrick Mining in the second quarter worth $76,000. Quintet Private Bank Europe S.A. acquired a new stake in Barrick Mining in the second quarter valued at $445,000. Bard Financial Services Inc. acquired a new stake in Barrick Mining in the second quarter valued at $1,325,000. Finally, Chemistry Wealth Management LLC purchased a new stake in shares of Barrick Mining during the 2nd quarter worth $246,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

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.