Barrick Mining Sees Unusually High Options Volume (NYSE:B)

Barrick Mining Corporation (NYSE:B) (TSE:ABX) saw some unusual options trading on Thursday. Traders acquired 279,555 call options on the stock. This is an increase of approximately 606% compared to the average volume of 39,596 call options.

Wall Street Analyst Weigh In

B has been the topic of several research reports. Zacks Research lowered shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. UBS Group set a $55.00 price target on shares of Barrick Mining in a research report on Friday, February 6th. Raymond James Financial upped their target price on Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, November 25th. Scotiabank boosted their target price on shares of Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $71.00 price objective on shares of Barrick Mining in a research note on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Barrick Mining currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.25.

Institutional Trading of Barrick Mining

Several hedge funds and other institutional investors have recently bought and sold shares of B. Capital International Investors lifted its stake in shares of Barrick Mining by 35.9% in the 3rd 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 during the period. 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 worth $2,327,991,000 after acquiring an additional 767,544 shares in the last quarter. Van ECK Associates Corp boosted its stake in Barrick Mining by 22.8% during the fourth quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock worth $2,413,699,000 after buying an additional 10,287,544 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Barrick Mining during the second quarter valued at $1,091,122,000. Finally, First Eagle Investment Management LLC purchased a new stake in Barrick Mining in the second quarter worth about $822,056,000. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Performance

NYSE B traded up $0.55 during trading on Thursday, reaching $50.36. 16,294,020 shares of the company’s stock were exchanged, compared to its average volume of 16,549,152. The stock has a market capitalization of $84.37 billion, a P/E ratio of 17.19, a PEG ratio of 0.40 and a beta of 0.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 2.33. The business has a 50 day moving average price of $47.49 and a 200-day moving average price of $38.18. Barrick Mining has a fifty-two week low of $17.00 and a fifty-two week high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.19. The business had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The firm’s revenue for the quarter was up 44.6% on a year-over-year basis. Sell-side analysts forecast that Barrick Mining will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be given a $0.42 dividend. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. This represents a $1.68 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, February 27th. Barrick Mining’s dividend payout ratio (DPR) is 57.34%.

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.