Barrick Mining (NYSE:B) Price Target Raised to $55.00

Barrick Mining (NYSE:B) (TSE:ABX) had its price target boosted by JPMorgan Chase & Co. from $52.00 to $55.00 in a research report released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the gold and copper producer’s stock.

A number of other equities analysts have also recently issued reports on the stock. UBS Group dropped their price target on shares of Barrick Mining from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Citigroup increased their price objective on shares of Barrick Mining from $41.00 to $45.00 and gave the company a “neutral” rating in a research report 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. Bank of America decreased their target price on shares of Barrick Mining from $56.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Finally, Sanford C. Bernstein decreased their target price on shares of Barrick Mining from $61.00 to $56.50 and set an “outperform” rating for the company in a report on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.59.

Barrick Mining Stock Down 1.4%

Shares of NYSE:B opened at $38.11 on Wednesday. The company has a current ratio of 3.01, a quick ratio of 2.36 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $42.74 and a two-hundred day simple moving average of $40.89. Barrick Mining has a 12-month low of $30.98 and a 12-month high of $54.69. The stock has a market capitalization of $62.31 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 1.20 and a beta of 0.48.

Barrick Mining (NYSE:B) (TSE:ABX) last released its earnings results on Monday, August 10th. The gold and copper producer reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the prior year, the firm posted $0.47 earnings per share. The company’s quarterly revenue was up 43.8% on a year-over-year basis. On average, research analysts anticipate that Barrick Mining will post 3.50 earnings per share for the current fiscal year.

Barrick Mining Announces Dividend

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

Institutional Inflows and Outflows

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