Brokerages Set Barrick Mining Corporation (NYSE:B) Price Target at $54.83

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) have been assigned an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $54.8333.

A number of brokerages recently weighed in on B. ATB Cormark Capital Markets cut shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. DZ Bank upgraded shares of Barrick Mining to a “strong-buy” rating in a research report on Monday, January 19th. JPMorgan Chase & Co. assumed coverage on shares of Barrick Mining in a research report on Thursday, January 29th. They set an “overweight” rating and a $68.00 price objective for the company. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $71.00 price objective on shares of Barrick Mining in a research report on Wednesday, February 4th. Finally, Scotiabank upped their price objective 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.

Hedge Funds Weigh In On Barrick Mining

A number of large investors have recently modified their holdings of the business. Capital International Investors grew its stake in shares of Barrick Mining by 35.9% during the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock worth $3,340,709,000 after purchasing an additional 26,921,219 shares during the period. CIBC Asset Management Inc grew its stake in shares of Barrick Mining by 316.0% during the 3rd quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer’s stock worth $601,115,000 after purchasing an additional 13,891,886 shares during the period. FIL Ltd grew its stake in shares of Barrick Mining by 85.3% during the 4th quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock worth $1,311,169,000 after purchasing an additional 13,853,587 shares during the period. Van ECK Associates Corp grew its stake in shares of Barrick Mining by 22.8% during the 4th 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 purchasing an additional 10,287,544 shares during the period. Finally, Ameriprise Financial Inc. acquired a new position in shares of Barrick Mining during the 2nd quarter worth $211,263,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Stock Down 1.6%

Shares of NYSE:B opened at $42.39 on Tuesday. The stock has a market cap of $71.02 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.57 and a beta of 0.50. The firm has a fifty day moving average price of $44.16 and a 200 day moving average price of $41.80. 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 has a 1-year low of $17.41 and a 1-year 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 for the quarter, topping analysts’ consensus estimates of $0.85 by $0.19. The firm had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The business’s quarterly revenue was up 44.6% on a year-over-year basis. Sell-side analysts predict that Barrick Mining will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, February 27th. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s payout ratio is currently 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.