Barrick Mining (NYSE:B) Rating Increased to Hold at Barclays

Barrick Mining (NYSE:B) (TSE:ABX) was upgraded by stock analysts at Barclays to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Canaccord Genuity Group reduced their price target on shares of Barrick Mining to $77.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Citigroup boosted their price target on shares of Barrick Mining from $38.00 to $48.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Scotiabank boosted their price target on shares of Barrick Mining from $43.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, January 26th. JPMorgan Chase & Co. started coverage on shares of Barrick Mining in a report on Thursday, January 29th. They set an “overweight” rating and a $68.00 price target for the company. Finally, Weiss Ratings downgraded shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.46.

Barrick Mining Stock Performance

Barrick Mining stock opened at $40.64 on Thursday. Barrick Mining has a 12 month low of $18.58 and a 12 month high of $54.69. The company has a market cap of $68.10 billion, a PE ratio of 11.23, a P/E/G ratio of 1.12 and a beta of 0.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44. The company has a fifty day moving average price of $41.26 and a two-hundred day moving average price of $43.27.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.18. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.75 billion. The company’s revenue for the quarter was up 66.7% on a year-over-year basis. Research analysts expect that Barrick Mining will post 3.7 earnings per share for the current year.

Institutional Investors Weigh In On Barrick Mining

Institutional investors have recently bought and sold shares of the stock. Capital International Investors lifted its holdings in Barrick Mining by 35.9% in the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock valued at $3,340,709,000 after acquiring an additional 26,921,219 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Barrick Mining by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 70,878,168 shares of the gold and copper producer’s stock valued at $2,327,991,000 after acquiring an additional 767,544 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Barrick Mining by 22.8% in the 4th quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock valued at $2,413,699,000 after acquiring an additional 10,287,544 shares during the last quarter. Royal Bank of Canada lifted its holdings in Barrick Mining by 10.9% in the 1st quarter. Royal Bank of Canada now owns 39,598,520 shares of the gold and copper producer’s stock valued at $1,615,225,000 after acquiring an additional 3,881,841 shares during the last quarter. Finally, FIL Ltd lifted its holdings in Barrick Mining by 85.3% in the 4th quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock valued at $1,311,169,000 after acquiring an additional 13,853,587 shares during the last quarter. 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.