JPMorgan Chase & Co. Lowers Barrick Mining (NYSE:B) Price Target to $50.00

Barrick Mining (NYSE:B) (TSE:ABX) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $58.00 to $50.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the gold and copper producer’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 33.29% from the stock’s current price.

A number of other equities analysts also recently commented on the company. UBS Group cut their price objective on Barrick Mining from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Canadian Imperial Bank of Commerce decreased their target price on Barrick Mining to $63.00 and set an “outperformer” rating for the company in a report on Tuesday, April 21st. Royal Bank Of Canada dropped their target price on shares of Barrick Mining from $51.00 to $49.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. ATB Cormark Capital Markets lowered shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Scotiabank reduced their price target on shares of Barrick Mining from $63.00 to $57.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Barrick Mining currently has an average rating of “Moderate Buy” and a consensus price target of $52.46.

Barrick Mining Trading Up 3.1%

B stock opened at $37.51 on Tuesday. The company has a quick ratio of 2.44, a current ratio of 3.06 and a debt-to-equity ratio of 0.13. The company has a market cap of $62.40 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 0.76 and a beta of 0.48. The business has a fifty day simple moving average of $39.05 and a 200-day simple moving average of $42.84. Barrick Mining has a 52 week low of $20.94 and a 52 week high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.75 billion. The business’s revenue was up 66.7% compared to the same quarter last year. On average, equities research analysts expect that Barrick Mining will post 3.61 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its position in shares of Barrick Mining by 22.8% in the 4th quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock worth $2,413,699,000 after purchasing an additional 10,287,544 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Barrick Mining by 10.9% during the first quarter. Royal Bank of Canada now owns 39,598,520 shares of the gold and copper producer’s stock worth $1,615,225,000 after purchasing an additional 3,881,841 shares during the last quarter. FIL Ltd lifted its position in shares of Barrick Mining by 85.3% during the fourth quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock worth $1,311,169,000 after purchasing an additional 13,853,587 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Barrick Mining by 61.9% during the fourth quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer’s stock worth $909,104,000 after purchasing an additional 7,870,411 shares during the last quarter. Finally, TD Asset Management Inc grew its stake in Barrick Mining by 5.6% in the fourth quarter. TD Asset Management Inc now owns 20,395,667 shares of the gold and copper producer’s stock worth $889,627,000 after purchasing an additional 1,086,332 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining News Summary

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

• Positive Sentiment: Barrick’s investment in Kingfisher Metals boosts its exposure to a prospective exploration asset and may support future discovery upside. Barrick Announces Investment in Kingfisher Metals
• Positive Sentiment: The company’s new stake could strengthen technical collaboration with Kingfisher and broaden Barrick’s strategic pipeline beyond existing operations. Barrick Mining to Acquire 9.9% Stake in Kingfisher Via $14.83M Deal
• Neutral Sentiment: Coverage on Barrick’s mining operations kept the company in focus, but did not include a major new operational update or financial guidance change. Barrick Mining (NYSE:B) Mining Operations Gain Market Focus
• Neutral Sentiment: JPMorgan lowered its price target to $50 from $58 while keeping an overweight rating, which may temper enthusiasm but still implies upside from current levels. Barrick price target lowered by JPMorgan Chase & Co.

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.