Barrick Mining (NYSE:B) Price Target Raised to $53.00

Barrick Mining (NYSE:B) (TSE:ABX) had its price objective boosted by analysts at Royal Bank Of Canada from $49.00 to $53.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the gold and copper producer’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 22.92% from the stock’s current price.

Several other research analysts have also recently weighed in on B. JPMorgan Chase & Co. upped their price objective on Barrick Mining from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Wall Street Zen lowered Barrick Mining from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Canadian Imperial Bank of Commerce set a $57.00 target price on Barrick Mining in a research note on Wednesday, August 12th. UBS Group reduced their price target on Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Barrick Mining in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Barrick Mining presently has an average rating of “Moderate Buy” and a consensus target price of $52.90.

Barrick Mining Stock Up 1.0%

B traded up $0.42 during trading on Wednesday, hitting $43.12. The company had a trading volume of 3,737,805 shares, compared to its average volume of 12,797,542. The company has a market capitalization of $70.97 billion, a PE ratio of 11.09, a PEG ratio of 1.24 and a beta of 0.51. Barrick Mining has a one year low of $28.38 and a one year high of $54.69. The firm’s 50-day moving average price is $41.01 and its 200 day moving average price is $41.24. The company has a quick ratio of 2.36, a current ratio of 3.01 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $5.10 billion. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. The company’s revenue for the quarter was up 43.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 EPS. As a group, equities analysts expect that Barrick Mining will post 3.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in B. Van ECK Associates Corp lifted its position in shares of Barrick Mining by 22.8% during 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 period. Employees Provident Fund Board acquired a new position in Barrick Mining in the fourth quarter valued at about $221,664,000. Renaissance Technologies LLC lifted its position in Barrick Mining by 335.8% during the first quarter. Renaissance Technologies LLC now owns 5,476,478 shares of the gold and copper producer’s stock worth $223,386,000 after purchasing an additional 4,219,700 shares during the period. Royal Bank of Canada increased 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 buying an additional 3,881,841 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Barrick Mining in the 2nd quarter valued at approximately $117,374,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Company Profile

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the production of gold and copper. Its activities include the exploration, development, construction and operation of mines, as well as processing ore into refined metal products.

The company operates and holds interests in mining assets across several regions, including North America, South America, Africa, the Middle East and Papua New Guinea. Its portfolio includes gold operations such as Nevada Gold Mines in the United States, Pueblo Viejo in the Dominican Republic, Veladero in Argentina, Kibali in the Democratic Republic of the Congo, and North Mara and Bulyanhulu in Tanzania.