Barrick Mining (NYSE:B) Price Target Raised to $26.00

Barrick Mining (NYSE:B) (TSE:ABX) had its price target hoisted by Scotiabank from $25.00 to $26.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm presently has a “sector perform” rating on the gold and copper producer’s stock. Scotiabank’s target price would indicate a potential upside of 7.93% from the stock’s current price.

Other analysts have also issued reports about the company. Wall Street Zen lowered Barrick Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Cibc World Mkts raised shares of Barrick Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. CIBC raised Barrick Mining from a “neutral” rating to an “outperform” rating in a research report on Tuesday. Royal Bank Of Canada set a $26.00 target price on Barrick Mining and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Finally, BMO Capital Markets started coverage on shares of Barrick Mining in a research note on Wednesday, April 16th. They issued a “market perform” rating on the stock. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.77.

Barrick Mining Stock Performance

Barrick Mining stock opened at $24.09 on Wednesday. The business has a 50 day moving average of $21.53 and a 200-day moving average of $19.66. The company has a market capitalization of $41.10 billion, a P/E ratio of 15.15, a P/E/G ratio of 0.36 and a beta of 0.27. Barrick Mining has a 1 year low of $15.11 and a 1 year high of $24.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.16.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.60 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The company’s revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 EPS. On average, equities research analysts predict that Barrick Mining will post 1.47 earnings per share for the current year.

Institutional Investors Weigh In On Barrick Mining

A number of hedge funds have recently modified their holdings of B. Vanguard Group Inc. purchased a new position in Barrick Mining during the second quarter valued at approximately $1,459,633,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Barrick Mining during the 2nd quarter valued at $1,091,122,000. First Eagle Investment Management LLC bought a new stake in shares of Barrick Mining during the 2nd quarter valued at $822,056,000. Capital International Investors increased its stake in Barrick Mining by 136.1% in the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer’s stock worth $516,055,000 after buying an additional 19,189,830 shares in the last quarter. Finally, TD Asset Management Inc bought a new stake in Barrick Mining during the 2nd quarter valued at approximately $386,328,000. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Company Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.