Barrick Mining (NYSE:B) Stock Rating Upgraded by Wall Street Zen

Barrick Mining (NYSE:B) (TSE:ABX) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

B has been the topic of a number of other research reports. Raymond James Financial set a $40.00 price target on shares of Barrick Mining and gave the company an “outperform” rating in a report on Friday. Bank of America boosted their target price on shares of Barrick Mining from $29.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, September 19th. Zacks Research downgraded shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. National Bankshares raised Barrick Mining to an “outperform” rating in a report on Monday, September 22nd. Finally, Royal Bank Of Canada upped their target price on shares of Barrick Mining from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.10.

Barrick Mining Price Performance

Shares of NYSE:B opened at $32.73 on Friday. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. The firm has a 50-day simple moving average of $28.58 and a 200 day simple moving average of $22.98. The company has a market cap of $55.72 billion, a PE ratio of 20.58, a P/E/G ratio of 0.53 and a beta of 0.30. Barrick Mining has a fifty-two week low of $15.11 and a fifty-two week high of $36.10.

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

Institutional Investors Weigh In On Barrick Mining

A number of hedge funds have recently added to or reduced their stakes in B. GAMMA Investing LLC grew its holdings in Barrick Mining by 1,844.0% during the 1st quarter. GAMMA Investing LLC now owns 6,007 shares of the gold and copper producer’s stock worth $117,000 after acquiring an additional 5,698 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Barrick Mining by 21.8% during the 1st quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer’s stock worth $62,000 after acquiring an additional 563 shares during the last quarter. Fifth Third Bancorp grew its holdings in Barrick Mining by 28.9% during the 1st quarter. Fifth Third Bancorp now owns 5,644 shares of the gold and copper producer’s stock worth $110,000 after acquiring an additional 1,266 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Barrick Mining by 1.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 74,792 shares of the gold and copper producer’s stock worth $1,454,000 after acquiring an additional 1,156 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Barrick Mining by 3,816.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 163,639 shares of the gold and copper producer’s stock valued at $3,181,000 after purchasing an additional 159,461 shares during the last quarter. 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.