Barrick Mining (NYSE:B) Sets New 52-Week High – What’s Next?

Barrick Mining Corporation (NYSE:B) (TSE:ABX) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $53.29 and last traded at $51.29, with a volume of 19195398 shares. The stock had previously closed at $51.08.

Analysts Set New Price Targets

B has been the subject of a number of recent research reports. Jefferies Financial Group reissued a “buy” rating and issued a $55.00 target price on shares of Barrick Mining in a report on Sunday, December 7th. CIBC lifted their price objective on shares of Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Citigroup upgraded shares of Barrick Mining from a “hold” rating to a “buy” rating in a report on Monday, November 24th. DZ Bank raised shares of Barrick Mining to a “strong-buy” rating in a report on Monday, January 19th. Finally, TD Cowen reissued a “buy” rating on shares of Barrick Mining in a research note on Wednesday, November 26th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $48.73.

Barrick Mining Stock Up 0.4%

The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.33 and a current ratio of 2.94. The company’s fifty day moving average price is $44.27 and its 200-day moving average price is $34.22. The stock has a market cap of $85.93 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 0.44 and a beta of 0.41.

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 for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.20 billion. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 EPS. Equities analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a dividend of $0.175 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s dividend payout ratio is 33.82%.

Institutional Trading of Barrick Mining

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. purchased a new stake in shares of Barrick Mining in the 2nd quarter worth $1,459,633,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Barrick Mining in the second quarter valued at about $696,000. Philadelphia Trust Co. purchased a new stake in Barrick Mining in the second quarter worth about $1,412,000. Cadence Wealth Management LLC purchased a new stake in Barrick Mining in the second quarter worth about $1,112,000. Finally, Hillsdale Investment Management Inc. bought a new position in Barrick Mining during the 2nd quarter worth about $30,641,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Company Profile

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.