Barrick Mining (NYSE:B) Trading Down 3.9% – What’s Next?

Barrick Mining Corporation (NYSE:B) (TSE:ABX) dropped 3.9% during trading on Thursday . The stock traded as low as $37.36 and last traded at $37.4650. Approximately 16,571,152 shares traded hands during trading, an increase of 2% from the average daily volume of 16,208,684 shares. The stock had previously closed at $38.97.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on B. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $71.00 price objective on shares of Barrick Mining in a research report on Wednesday, February 4th. Zacks Research lowered Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. Canaccord Genuity Group cut their price target on Barrick Mining to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. BNP Paribas Exane raised Barrick Mining to a “neutral” rating and set a $50.00 price target for the company in a report on Friday, December 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.25.

Barrick Mining Trading Down 3.9%

The company has a quick ratio of 2.33, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $62.77 billion, a PE ratio of 12.79, a PEG ratio of 1.26 and a beta of 0.41. The business’s 50-day moving average is $46.59 and its two-hundred day moving average is $40.73.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.19. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.15 billion. The business’s revenue was up 44.6% on a year-over-year basis. On average, analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were paid a dividend of $0.42 per share. The ex-dividend date was Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a yield of 4.5%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s dividend payout ratio (DPR) is 57.34%.

Institutional Investors Weigh In On Barrick Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. McAlvany Wealth Management LLC acquired a new stake in shares of Barrick Mining in the fourth quarter valued at approximately $3,805,000. Purpose Unlimited Inc. purchased a new position in shares of Barrick Mining during the fourth quarter worth approximately $1,992,000. Rockefeller Capital Management L.P. increased its holdings in shares of Barrick Mining by 8.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 540,000 shares of the gold and copper producer’s stock valued at $23,517,000 after acquiring an additional 43,757 shares during the period. Fund Advisors of America Inc FL acquired a new position in shares of Barrick Mining in the 4th quarter valued at $251,000. Finally, World Investment Advisors raised its position in Barrick Mining by 7.2% in the 4th quarter. World Investment Advisors now owns 11,614 shares of the gold and copper producer’s stock valued at $506,000 after purchasing an additional 782 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

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.