Barrick Mining Corporation (NYSE:B) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Barrick Mining Corporation (NYSE:BGet Free Report) (TSE:ABX) has received a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $24.05.

A number of brokerages have weighed in on B. CIBC upped their price target on Barrick Mining from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, June 11th. Raymond James Financial upped their price target on Barrick Mining from $23.00 to $23.50 and gave the company an “outperform” rating in a research report on Monday, March 31st. Scotiabank upped their price target on Barrick Mining from $20.00 to $22.00 and gave the company a “sector perform” rating in a research report on Monday, April 14th. Stifel Canada upgraded Barrick Mining to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, National Bank Financial raised Barrick Mining to a “hold” rating in a research note on Friday, March 21st.

Check Out Our Latest Analysis on B

Barrick Mining Stock Performance

B opened at $20.98 on Wednesday. The stock has a market cap of $35.97 billion, a PE ratio of 15.78, a P/E/G ratio of 0.35 and a beta of 0.27. The company has a current ratio of 2.87, a quick ratio of 2.16 and a debt-to-equity ratio of 0.14. Barrick Mining has a 1 year low of $17.41 and a 1 year high of $47.50. The stock’s 50 day simple moving average is $19.53 and its 200-day simple moving average is $18.11.

Barrick Mining (NYSE:BGet Free Report) (TSE:ABX) last released its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. Barrick Mining’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 earnings per share. Sell-side analysts forecast that Barrick Mining will post 1.47 EPS for the current year.

Barrick Mining Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Friday, May 30th. Barrick Mining’s dividend payout ratio (DPR) is presently 30.08%.

Hedge Funds Weigh In On Barrick Mining

Several large investors have recently made changes to their positions in the company. Maryland State Retirement & Pension System lifted its stake in shares of Barrick Mining by 15.0% during the first quarter. Maryland State Retirement & Pension System now owns 535,002 shares of the gold and copper producer’s stock valued at $10,385,000 after acquiring an additional 69,876 shares during the period. Headlands Technologies LLC bought a new stake in Barrick Mining in the first quarter valued at about $342,000. Charles Schwab Investment Management Inc. increased its holdings in Barrick Mining by 1.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,144,340 shares of the gold and copper producer’s stock valued at $99,867,000 after purchasing an additional 70,623 shares during the last quarter. Nicholas Hoffman & Company LLC. increased its holdings in Barrick Mining by 1.5% in the first quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer’s stock valued at $924,000 after purchasing an additional 716 shares during the last quarter. Finally, Lester Murray Antman dba SimplyRich bought a new stake in Barrick Mining in the first quarter valued at about $230,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Company Profile

(Get Free Report

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.

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Analyst Recommendations for Barrick Mining (NYSE:B)

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