Barrick Mining (NYSE:B) Shares Up 1.3% – What’s Next?
by Sarita Garza · The Markets DailyBarrick Mining Corporation (NYSE:B – Get Free Report) (TSE:ABX)’s stock price traded up 1.3% on Monday . The stock traded as high as $38.33 and last traded at $37.6410. 22,118,468 shares were traded during trading, an increase of 36% from the average session volume of 16,300,036 shares. The stock had previously closed at $37.14.
Analysts Set New Price Targets
A number of research firms recently commented on B. Raymond James Financial boosted their target price on shares of Barrick Mining from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, November 25th. Wall Street Zen upgraded shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Citigroup upped their price target on Barrick Mining from $38.00 to $48.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a research report on Monday, December 29th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $55.00 price objective on shares of Barrick Mining in a research note on Sunday, December 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.25.
Get Our Latest Research Report on B
Barrick Mining Stock Performance
The firm’s fifty day simple moving average is $47.27 and its 200 day simple moving average is $40.60. The company has a market capitalization of $63.06 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.23 and a beta of 0.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 2.33.
Barrick Mining (NYSE:B – Get Free Report) (TSE:ABX) last released its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.19. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.15 billion. The business’s quarterly revenue was up 44.6% compared to the same quarter last year. On average, sell-side analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.
Barrick Mining Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.5%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, February 27th. Barrick Mining’s payout ratio is 57.34%.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of B. Financial Consulate Inc. grew its stake in Barrick Mining by 1,042.0% during the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after acquiring an additional 521 shares in the last quarter. Westside Investment Management Inc. acquired a new stake in shares of Barrick Mining during the fourth quarter worth approximately $25,000. Arlington Trust Co LLC acquired a new stake in shares of Barrick Mining during the third quarter worth approximately $26,000. Intesa Sanpaolo Wealth Management purchased a new position in Barrick Mining during the fourth quarter valued at approximately $26,000. Finally, JPL Wealth Management LLC purchased a new position in Barrick Mining during the third quarter valued at approximately $28,000. 90.82% of the stock is owned by institutional investors and hedge funds.
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.