Barrick Mining (NYSE:B) Cut to “Hold” at Freedom Broker

Freedom Broker lowered shares of Barrick Mining (NYSE:B) (TSE:ABX) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. Freedom Broker currently has $46.00 price objective on the gold and copper producer’s stock, down from their prior price objective of $54.00.

Several other analysts also recently weighed in on B. Citigroup raised their target price on Barrick Mining from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. Barclays raised their price objective on shares of Barrick Mining from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Sanford C. Bernstein dropped their price target on Barrick Mining from $61.00 to $56.50 and set an “outperform” rating on the stock in a report on Wednesday, September 9th. Canadian Imperial Bank of Commerce lowered shares of Barrick Mining from a “sector outperform” rating to a “neutral” rating and reduced their price objective for the company from $57.00 to $49.00 in a research note on Friday, October 16th. Finally, TD set a $59.00 price objective on shares of Barrick Mining and gave the stock a “buy” rating in a research note on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.59.

Barrick Mining Stock Performance

Shares of B stock opened at $38.11 on Thursday. The firm has a 50 day moving average of $42.74 and a two-hundred day moving average of $40.89. 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 has a 52 week low of $30.98 and a 52 week high of $54.69. The stock has a market capitalization of $62.31 billion, a PE ratio of 9.82, a P/E/G ratio of 1.18 and a beta of 0.48.

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, beating the consensus estimate of $0.81 by $0.01. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.10 billion. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%. The company’s revenue was up 43.8% on a year-over-year basis. During the same period last year, the business posted $0.47 EPS. On average, research analysts predict that Barrick Mining will post 3.50 EPS for the current fiscal year.

Barrick Mining Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were issued a dividend of $0.1750 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Monday, August 31st. Barrick Mining’s dividend payout ratio is 18.04%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Silver Oak Securities Incorporated grew its position in Barrick Mining by 2.9% during the 1st quarter. Silver Oak Securities Incorporated now owns 8,810 shares of the gold and copper producer’s stock worth $359,000 after acquiring an additional 246 shares during the last quarter. Brookstone Capital Management boosted its holdings in Barrick Mining by 4.9% during the third quarter. Brookstone Capital Management now owns 6,658 shares of the gold and copper producer’s stock worth $271,000 after purchasing an additional 313 shares during the last quarter. Fruth Investment Management lifted its position in Barrick Mining by 1.8% during the 1st quarter. Fruth Investment Management now owns 20,150 shares of the gold and copper producer’s stock worth $821,000 after buying an additional 350 shares in the last quarter. Eagle Bay Advisors LLC boosted its stake in shares of Barrick Mining by 7.5% during the 1st quarter. Eagle Bay Advisors LLC now owns 5,052 shares of the gold and copper producer’s stock worth $206,000 after buying an additional 352 shares during the last quarter. Finally, CoreCap Advisors LLC grew its holdings in shares of Barrick Mining by 13.6% in the 3rd quarter. CoreCap Advisors LLC now owns 3,019 shares of the gold and copper producer’s stock valued at $123,000 after acquiring an additional 361 shares in the last quarter. Institutional investors own 90.82% of the company’s stock.

More Barrick Mining News

Here are the key news stories impacting Barrick Mining this week:

• Positive Sentiment: JPMorgan raised its price target to $55 from $52 and maintained a constructive view of Barrick, implying substantial upside from recent trading levels. JPMorgan raises target for Barrick Mining stock
• Positive Sentiment: RBC Dominion Securities assigned an “outperform” rating and a $53 target, reinforcing the case that Barrick’s valuation does not fully reflect its potential. RBC Dominion Securities rating
• Positive Sentiment: Investors are also watching mine development, production expansion, dividends and share buybacks as possible catalysts for a future revaluation. Barrick Mining catalysts for value revaluation
• Neutral Sentiment: Coverage is assessing whether Barrick’s mine-development pipeline will change its production mix. The impact depends on project execution, timing, capital spending and the profitability of future gold and copper output. Barrick Mining mine development and production mix
• Negative Sentiment: Freedom Broker downgraded Barrick to “hold” and cut its price target to $46 from $54, citing reduced near-term EBITDA expectations, operational risks and valuation concerns. The action contributed to a broader selloff in major gold producers. Freedom Broker downgrades Barrick Mining
• Negative Sentiment: A surge in diesel prices is raising concern about higher mining costs and squeezed margins across the industry, particularly because fuel is a significant variable expense for producers. Diesel price surge putting mining profits to test

About Barrick Mining

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the exploration, development and production of gold and copper. Its activities include operating mines, advancing development projects and managing mineral reserves across multiple jurisdictions.

The company’s gold operations include Nevada Gold Mines in the United States, a joint venture in which Barrick is the operator, as well as mines and projects in Canada, the Dominican Republic, Mali, Côte d’Ivoire, Tanzania and the Democratic Republic of the Congo.