RBC Dominion Securities Reiterates $53.00 Price Target for Barrick Mining (NYSE:B)

Barrick Mining (NYSE:B) (TSE:ABX) has been assigned a $53.00 price objective by equities researchers at RBC Dominion Securities in a research report issued on Thursday, BayStreet reports. The firm presently has an “outperform” rating on the gold and copper producer’s stock. RBC Dominion Securities‘s price target suggests a potential upside of 37.14% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. TD set a $59.00 target price on Barrick Mining and gave the company a “buy” rating in a research note on Wednesday, September 16th. JPMorgan Chase & Co. raised their price target on Barrick Mining from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday. Canadian Imperial Bank of Commerce cut Barrick Mining from a “sector outperform” rating to a “neutral” rating and decreased their price target for the stock from $57.00 to $49.00 in a research note on Friday, October 16th. Weiss Ratings upgraded Barrick Mining from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, Wall Street Zen downgraded Barrick Mining from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Barrick Mining currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.59.

Barrick Mining Trading Down 5.2%

Barrick Mining stock traded down $2.11 during mid-day trading on Thursday, hitting $38.65. The company’s stock had a trading volume of 8,618,204 shares, compared to its average volume of 12,135,841. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.36. The stock has a market cap of $63.18 billion, a price-to-earnings ratio of 9.96, a price-to-earnings-growth ratio of 1.26 and a beta of 0.48. The business has a 50 day moving average price of $42.86 and a 200-day moving average price of $40.94. Barrick Mining has a 12 month low of $30.98 and a 12 month high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same period in the prior year, the business posted $0.47 earnings per share. The company’s revenue was up 43.8% on a year-over-year basis. As a group, analysts forecast that Barrick Mining will post 3.49 EPS for the current year.

Institutional Trading of Barrick Mining

Institutional investors have recently modified their holdings of the company. Ascentis Independent Advisors bought a new stake in shares of Barrick Mining in the first quarter worth about $28,000. Key Financial Inc increased its holdings in Barrick Mining by 137.5% during the 1st quarter. Key Financial Inc now owns 753 shares of the gold and copper producer’s stock valued at $31,000 after purchasing an additional 436 shares during the period. Continuum Advisory LLC bought a new position in Barrick Mining during the 2nd quarter valued at approximately $32,000. Root Financial Partners LLC bought a new position in Barrick Mining during the 3rd quarter valued at approximately $38,000. Finally, Allied Private Wealth LLC purchased a new stake in Barrick Mining in the 2nd quarter worth approximately $35,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Barrick Mining

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

• Positive Sentiment: JPMorgan raised its price target for Barrick from $52 to $55 and maintained an Overweight rating, implying substantial potential upside from recent trading levels. JPMorgan price-target article
• Positive Sentiment: Potential longer-term catalysts include higher dividends, share repurchases and production expansion. Barrick’s valuation has also attracted bullish attention after its shares declined more than 6% year to date. Barrick catalysts article
• Neutral Sentiment: Analyst opinion remains divided: one target was upgraded, while other firms have recently reduced their targets, including TD Securities and CIBC. This suggests investors are weighing Barrick’s attractive valuation against execution and commodity-price risks. Barrick analyst scorecard
• Negative Sentiment: Freedom Broker’s downgrade was part of a broader retreat in gold-mining stocks. The firm cited trimmed EBITDA forecasts, lingering operational risks and valuation constraints, pressuring Barrick alongside Agnico Eagle and Newmont. Gold-miner downgrade article
• Negative Sentiment: Investors are also monitoring cash-flow quality ahead of Barrick’s third-quarter results. Second-quarter net earnings rose 50% year over year on stronger gold and copper prices, but attributable free cash flow fell to $141 million from $212 million, raising questions about how effectively profits are converting into cash. Barrick earnings and cash-flow article

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.