Barrick Mining (NYSE:B) Trading Up 5.7% – What’s Next?

Barrick Mining Corporation (NYSE:B) (TSE:ABX) shares shot up 5.7% on Friday . The company traded as high as $48.17 and last traded at $47.9890. 16,943,810 shares were traded during trading, a decline of 1% from the average session volume of 17,117,352 shares. The stock had previously closed at $45.38.

Analyst Upgrades and Downgrades

B has been the subject of a number of research reports. Raymond James Financial increased their price target on shares of Barrick Mining from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $71.00 target price on shares of Barrick Mining in a research report on Wednesday, February 4th. Cormark upgraded Barrick Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Barrick Mining in a research note on Monday, December 29th. Finally, BNP Paribas Exane upgraded Barrick Mining to a “neutral” rating and set a $50.00 price objective for the company in a report on Friday, December 5th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.58.

Barrick Mining Stock Performance

The company has a market capitalization of $80.40 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 0.38 and a beta of 0.40. The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average is $46.36 and its two-hundred day moving average is $36.42.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, topping the consensus estimate of $0.85 by $0.19. The company had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The firm’s revenue was up 44.6% compared to the same quarter last year. Equities research analysts predict that Barrick Mining Corporation 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, March 16th. Shareholders of record on Friday, February 27th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a yield of 3.5%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s dividend payout ratio (DPR) is presently 23.89%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Westside Investment Management Inc. purchased a new stake in shares of Barrick Mining during the 4th quarter valued at about $25,000. Financial Consulate Inc. grew its position in Barrick Mining by 1,042.0% during the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after buying an additional 521 shares during the period. Intesa Sanpaolo Wealth Management purchased a new stake in Barrick Mining during the fourth quarter valued at approximately $26,000. Laurel Wealth Advisors LLC bought a new position in Barrick Mining in the fourth quarter worth approximately $30,000. Finally, Lodestone Wealth Management LLC bought a new position in Barrick Mining in the fourth quarter worth approximately $35,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

About Barrick Mining

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.