Barrick Mining (NYSE:B) Shares Up 6% – What’s Next?

Barrick Mining Corporation (NYSE:B) (TSE:ABX) shares shot up 6% during trading on Tuesday . The stock traded as high as $40.93 and last traded at $40.7570. 14,496,638 shares traded hands during trading, a decline of 10% from the average session volume of 16,158,166 shares. The stock had previously closed at $38.45.

Wall Street Analyst Weigh In

Several research analysts have issued reports on B shares. Canaccord Genuity Group reduced their price objective on Barrick Mining to $77.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. ATB Cormark Capital Markets raised Barrick Mining to a “moderate buy” rating in a research note on Monday, February 9th. JPMorgan Chase & Co. initiated coverage on Barrick Mining in a report on Thursday, January 29th. They issued an “overweight” rating and a $68.00 price target on the stock. Zacks Research lowered Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 13th. Finally, Scotiabank boosted their price objective on Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Barrick Mining has an average rating of “Moderate Buy” and a consensus target price of $54.83.

Barrick Mining Stock Down 1.1%

The business’s 50-day moving average is $45.62 and its two-hundred day moving average is $41.09. The firm has a market capitalization of $69.90 billion, a price-to-earnings ratio of 14.20, a P/E/G ratio of 1.35 and a beta of 0.51. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.33 and a current ratio of 2.92.

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, beating analysts’ consensus estimates of $0.85 by $0.19. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The firm had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $5.15 billion. The business’s quarterly revenue was up 44.6% on a year-over-year basis. On average, equities analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were given a $0.42 dividend. The ex-dividend date was Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.0%. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s dividend payout ratio is currently 57.34%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Philadelphia Trust Co. bought a new stake in Barrick Mining in the 2nd quarter valued at $1,412,000. Quadrature Capital Ltd boosted its position in shares of Barrick Mining by 113.2% during the third quarter. Quadrature Capital Ltd now owns 3,984,800 shares of the gold and copper producer’s stock worth $130,764,000 after buying an additional 2,115,800 shares during the period. CIBC Asset Management Inc boosted its position in shares of Barrick Mining by 316.0% during the third quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer’s stock worth $601,115,000 after buying an additional 13,891,886 shares during the period. BlueCrest Capital Management Ltd bought a new position in shares of Barrick Mining during the third quarter worth about $1,889,000. Finally, Truist Financial Corp grew its holdings in shares of Barrick Mining by 46.5% during the third quarter. Truist Financial Corp now owns 65,112 shares of the gold and copper producer’s stock worth $2,134,000 after buying an additional 20,655 shares in the last quarter. 90.82% of the stock is currently owned by 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.