Barrick Mining (NYSE:B) Trading 1.2% Higher – Here’s What Happened

by · The Cerbat Gem

Barrick Mining Corporation (NYSE:BGet Free Report) (TSE:ABX) shares rose 1.2% during mid-day trading on Tuesday . The stock traded as high as $50.28 and last traded at $49.6290. Approximately 12,750,350 shares were traded during trading, a decline of 6% from the average daily volume of 13,558,696 shares. The stock had previously closed at $49.03.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Canaccord Genuity Group boosted their price target on shares of Barrick Mining from $39.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. National Bank Financial raised shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 22nd. Citigroup upgraded shares of Barrick Mining from a “hold” rating to a “buy” rating in a report on Monday, November 24th. BMO Capital Markets restated a “market perform” rating on shares of Barrick Mining in a research note on Monday, September 22nd. Finally, Cormark upgraded Barrick Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 11th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $47.17.

Get Our Latest Report on Barrick Mining

Barrick Mining Stock Up 1.2%

The firm’s fifty day simple moving average is $41.29 and its 200 day simple moving average is $32.20. The company has a current ratio of 2.94, a quick ratio of 2.33 and a debt-to-equity ratio of 0.14. The company has a market cap of $83.56 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 0.40 and a beta of 0.41.

Barrick Mining (NYSE:BGet Free Report) (TSE:ABX) last released its quarterly earnings data on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. The business had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.20 billion. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 EPS. Sell-side analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

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

Institutional Investors Weigh In On Barrick Mining

Several institutional investors have recently added to or reduced their stakes in B. Vermillion Wealth Management Inc. acquired a new stake in Barrick Mining during the second quarter worth approximately $25,000. Crowley Wealth Management Inc. purchased a new position in shares of Barrick Mining in the 2nd quarter valued at $26,000. Concord Wealth Partners acquired a new stake in Barrick Mining during the 2nd quarter worth $26,000. Arlington Trust Co LLC acquired a new stake in Barrick Mining during the 3rd quarter worth $26,000. Finally, Ameriflex Group Inc. purchased a new stake in Barrick Mining in the second quarter valued at $27,000. Hedge funds and other institutional investors 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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