Barrick Mining (NYSE:B) Price Target Lowered to $50.00 at UBS Group
by Mitch Edgeman · The Markets DailyBarrick Mining (NYSE:B – Get Free Report) (TSE:ABX) had its price target reduced by equities research analysts at UBS Group from $55.00 to $50.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the gold and copper producer’s stock. UBS Group’s price objective would indicate a potential upside of 30.14% from the company’s previous close.
A number of other brokerages also recently issued reports on B. ATB Cormark Capital Markets raised Barrick Mining to a “moderate buy” rating in a report on Monday, February 9th. DZ Bank raised shares of Barrick Mining to a “strong-buy” rating in a research report on Monday, January 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Barrick Mining in a research report on Monday, December 29th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $71.00 price objective on shares of Barrick Mining in a report on Wednesday, February 4th. Finally, Scotiabank boosted their target price on Barrick Mining from $43.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.83.
Read Our Latest Stock Analysis on B
Barrick Mining Stock Up 2.5%
NYSE B traded up $0.94 on Friday, hitting $38.42. 6,440,849 shares of the stock were exchanged, compared to its average volume of 16,046,429. Barrick Mining has a fifty-two week low of $17.00 and a fifty-two week high of $54.69. The company has a 50-day moving average price of $46.35 and a 200-day moving average price of $40.71. The company has a quick ratio of 2.33, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The company has a market cap of $64.37 billion, a PE ratio of 13.12, a PEG ratio of 1.29 and a beta of 0.41.
Barrick Mining (NYSE:B – Get Free Report) (TSE:ABX) last announced its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.19. The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.15 billion. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. Barrick Mining’s revenue was up 44.6% compared to the same quarter last year. Sell-side analysts anticipate that Barrick Mining will post 1.47 EPS for the current fiscal year.
Institutional Investors Weigh In On Barrick Mining
A number of institutional investors and hedge funds have recently modified their holdings of the company. Capital International Investors raised its stake in shares of Barrick Mining by 35.9% during the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock worth $3,340,709,000 after buying an additional 26,921,219 shares during the last quarter. Vanguard Group Inc. grew its stake in Barrick Mining by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 70,878,168 shares of the gold and copper producer’s stock valued at $2,327,991,000 after acquiring an additional 767,544 shares during the last quarter. Van ECK Associates Corp grew its stake in 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 valued at $2,413,699,000 after acquiring an additional 10,287,544 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Barrick Mining during the 2nd quarter valued at about $1,091,122,000. Finally, FIL Ltd raised its position in 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 acquiring an additional 13,853,587 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.
Barrick Mining News Roundup
Here are the key news stories impacting Barrick Mining this week:
- Positive Sentiment: Gold-price lift and capital‑return/IPO narrative support sentiment — Rising bullion prices typically boost large-cap gold miners’ earnings leverage; investors are also focused on Barrick’s stepped-up shareholder returns (higher base/performance-linked dividends and share buybacks) and management’s plan to pursue an IPO of North American assets, which could be seen as a value‑unlocking catalyst. QuiverQuant price‑movement analysis
- Neutral Sentiment: Solid fundamentals versus shorter‑term volatility — Barrick’s recent earnings beat and strong margins underpin a constructive medium‑term thesis (dividend framework, buybacks, analyst coverage and price targets), but exposure to copper/gold price swings and geopolitical risk makes timing sensitive for investors. (No single article linked.)
- Negative Sentiment: Reko Diq slowdown / project delay on security grounds — Multiple outlets report Barrick has slowed or delayed work at the $9bn+ Reko Diq project in Pakistan’s Chagai district amid deteriorating regional security tied to the Middle East conflict; the decision raises near‑term capex/timing uncertainty for a major growth asset and increases political/security execution risk for the company. FT: Barrick delays Reko Diq
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.