Barrick Mining (NYSE:B) Shares Up 3.8% – Time to Buy?

by · The Markets Daily

Shares of Barrick Mining Corporation (NYSE:BGet Free Report) (TSE:ABX) were up 3.8% on Monday . The stock traded as high as $46.32 and last traded at $45.7610. Approximately 11,172,137 shares traded hands during trading, an increase of 2% from the average daily volume of 10,939,220 shares. The stock had previously closed at $44.08.

Analyst Ratings Changes

B has been the topic of several recent research reports. UBS Group upped their price objective on shares of Barrick Mining from $39.00 to $47.00 and gave the company a “buy” rating in a report on Monday, December 1st. BMO Capital Markets reissued a “market perform” rating on shares of Barrick Mining in a research report on Monday, September 22nd. TD Securities upped their price target on shares of Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Barrick Mining in a research note on Wednesday, September 24th. Finally, Citigroup raised shares of Barrick Mining from a “hold” rating to a “buy” rating in a report on Monday, November 24th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $47.17.

Read Our Latest Report on Barrick Mining

Barrick Mining Stock Up 3.8%

The company’s 50 day simple moving average is $39.49 and its 200-day simple moving average is $31.08. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.33 and a current ratio of 2.94. The firm has a market capitalization of $77.05 billion, a PE ratio of 23.70, a PEG ratio of 0.30 and a beta of 0.41.

Barrick Mining (NYSE:BGet Free Report) (TSE:ABX) last released its quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. The firm had revenue of $4.19 billion for 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 business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. On average, analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a $0.175 dividend. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Friday, November 28th. Barrick Mining’s payout ratio is 33.82%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in B. Capital International Investors raised 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 valued at $3,340,709,000 after purchasing an additional 26,921,219 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Barrick Mining by 1.1% during 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 buying an additional 767,544 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Barrick Mining in the 2nd quarter worth approximately $1,091,122,000. First Eagle Investment Management LLC purchased a new stake in Barrick Mining in the second quarter worth approximately $822,056,000. Finally, TD Asset Management Inc grew its position in Barrick Mining by 3.8% during the third quarter. TD Asset Management Inc now owns 19,309,335 shares of the gold and copper producer’s stock valued at $634,346,000 after acquiring an additional 715,151 shares during the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

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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