Barrick Mining (NYSE:B) Trading Up 2.5% – Here’s What Happened

Barrick Mining Corporation (NYSE:B) (TSE:ABX)’s share price traded up 2.5% during mid-day trading on Wednesday . The stock traded as high as $39.67 and last traded at $38.9880. 11,911,673 shares were traded during trading, a decline of 26% from the average session volume of 16,199,034 shares. The stock had previously closed at $38.03.

Analysts Set New Price Targets

B has been the subject of a number of research reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Barrick Mining in a research note on Sunday, December 7th. TD Cowen reiterated a “buy” rating on shares of Barrick Mining in a research report on Wednesday, November 26th. ATB Cormark Capital Markets upgraded shares of Barrick Mining to a “moderate buy” rating in a research report on Monday, February 9th. UBS Group set a $55.00 price target on Barrick Mining in a research note on Friday, February 6th. Finally, DZ Bank raised shares of Barrick Mining to a “strong-buy” rating in a research note on Monday, January 19th. 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 company. According to MarketBeat, Barrick Mining currently has a consensus rating of “Moderate Buy” and an average price target of $55.25.

Barrick Mining Trading Up 2.5%

The stock has a 50 day moving average of $46.81 and a 200-day moving average of $40.74. The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $65.32 billion, a P/E ratio of 13.31, a P/E/G ratio of 1.25 and a beta of 0.41.

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

Barrick Mining Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, February 27th. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s dividend payout ratio is currently 57.34%.

Institutional Trading of Barrick Mining

Several hedge funds have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Barrick Mining during the 2nd quarter valued at $1,091,122,000. Capital International Investors increased its holdings in shares of Barrick Mining by 35.9% during 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 purchasing an additional 26,921,219 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Barrick Mining by 316.0% during the 3rd quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer’s stock worth $601,115,000 after acquiring an additional 13,891,886 shares in the last quarter. FIL Ltd grew its holdings in Barrick Mining by 85.3% in the fourth quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock valued at $1,311,169,000 after purchasing an additional 13,853,587 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in Barrick Mining in the 2nd quarter worth $246,392,000. 90.82% of the stock is owned by hedge funds and other 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.