UBS Group Issues Pessimistic Forecast for Barrick Mining (NYSE:B) Stock Price

by · The Markets Daily

Barrick Mining (NYSE:B – Get Free Report) (TSE:ABX) had its price target cut by investment analysts at UBS Group from $54.00 to $50.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the gold and copper producer’s stock. UBS Group’s price target suggests a potential upside of 36.19% from the company’s current price.

Several other brokerages also recently commented on B. Weiss Ratings downgraded Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. ATB Cormark Capital Markets lowered shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Barclays started coverage on shares of Barrick Mining in a report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price target on the stock. Finally, Canadian Imperial Bank of Commerce reduced their price objective on Barrick Mining to $63.00 and set an “outperformer” rating for the company in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Barrick Mining currently has an average rating of “Moderate Buy” and an average target price of $53.15.

View Our Latest Analysis on Barrick Mining

Barrick Mining Stock Performance

B stock traded down $0.22 during trading hours on Tuesday, reaching $36.71. The stock had a trading volume of 6,459,070 shares, compared to its average volume of 14,166,671. The stock has a 50-day simple moving average of $40.82 and a 200 day simple moving average of $43.76. Barrick Mining has a fifty-two week low of $20.52 and a fifty-two week high of $54.69. The stock has a market capitalization of $61.07 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 1.06 and a beta of 0.43. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44.

Barrick Mining (NYSE:B – Get Free Report) (TSE:ABX) last released its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.18. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. The firm’s quarterly revenue was up 66.7% compared to the same quarter last year. Analysts predict that Barrick Mining will post 3.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Barrick Mining

A number of large investors have recently modified their holdings of B. Capital International Investors boosted its position in Barrick Mining by 35.9% during the third quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock worth $3,340,709,000 after purchasing an additional 26,921,219 shares during the period. Van ECK Associates Corp lifted its stake in shares of Barrick Mining by 22.8% during the 4th quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock valued at $2,413,699,000 after buying an additional 10,287,544 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Barrick Mining by 10.9% during the 1st quarter. Royal Bank of Canada now owns 39,598,520 shares of the gold and copper producer’s stock valued at $1,615,225,000 after buying an additional 3,881,841 shares in the last quarter. FIL Ltd grew its stake in Barrick Mining by 85.3% in the 4th quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock valued at $1,311,169,000 after buying an additional 13,853,587 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in Barrick Mining by 61.9% in the 4th quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer’s stock valued at $909,104,000 after buying an additional 7,870,411 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

About Barrick Mining

(Get Free Report)

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.

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