Barrick Mining Target of Unusually Large Options Trading (NYSE:B)

Barrick Mining Corporation (NYSE:B) (TSE:ABX) saw some unusual options trading activity on Wednesday. Traders acquired 206,572 call options on the stock. This represents an increase of 258% compared to the average volume of 57,635 call options.

Analyst Ratings Changes

B has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Barrick Mining in a report on Monday. Wall Street Zen cut Barrick Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Scotiabank raised Barrick Mining from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $27.50 to $43.00 in a research note on Thursday, October 23rd. Sanford C. Bernstein reiterated an “outperform” rating on shares of Barrick Mining in a report on Wednesday, September 24th. Finally, Bank of America upgraded shares of Barrick Mining from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $38.00 to $48.00 in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Barrick Mining has a consensus rating of “Buy” and a consensus price target of $44.78.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. acquired a new stake in Barrick Mining during the 2nd quarter worth approximately $1,459,633,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Barrick Mining during the second quarter worth $1,091,122,000. First Eagle Investment Management LLC acquired a new stake in shares of Barrick Mining in the second quarter valued at $822,056,000. Capital International Investors raised its stake in shares of Barrick Mining by 35.9% in the third 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 acquiring an additional 26,921,219 shares in the last quarter. Finally, TD Asset Management Inc purchased a new position in Barrick Mining in the second quarter valued at $386,328,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Trading Up 4.7%

B opened at $40.97 on Friday. Barrick Mining has a 52 week low of $15.11 and a 52 week high of $41.08. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $34.48 and a 200-day simple moving average of $26.64. The firm has a market cap of $69.14 billion, a P/E ratio of 25.77, a P/E/G ratio of 0.40 and a beta of 0.28.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The firm had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter in the previous year, the business earned $0.09 EPS. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, equities analysts expect that Barrick Mining will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be given a dividend of $0.175 per share. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, November 28th. Barrick Mining’s dividend payout ratio is currently 33.82%.

About Barrick Mining

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.