Barrick Mining Corporation (NYSE:B) Short Interest Update

Barrick Mining Corporation (NYSE:B – Get Free Report) (TSE:ABX) was the recipient of a significant decline in short interest in the month of September. As of September 15th, there was short interest totaling 16,279,526 shares, a decline of 41.5% from the August 31st total of 27,851,784 shares. Based on an average trading volume of 8,499,761 shares, the short-interest ratio is currently 1.9 days. Currently, 1.0% of the company’s shares are sold short.

Barrick Mining Stock Down 1.6%

Shares of NYSE:B traded down $0.65 during mid-day trading on Thursday, reaching $40.02. 9,445,596 shares of the stock were exchanged, compared to its average volume of 12,588,668. The stock’s 50 day simple moving average is $42.43 and its 200-day simple moving average is $40.89. Barrick Mining has a one year low of $30.35 and a one year high of $54.69. The company has a market cap of $65.88 billion, a P/E ratio of 10.32, a P/E/G ratio of 1.21 and a beta of 0.51. The company has a quick ratio of 2.36, a current ratio of 3.01 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B – Get Free Report) (TSE:ABX) last released its quarterly earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $5.10 billion. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%.The business’s revenue was up 43.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 EPS. As a group, equities research analysts predict that Barrick Mining will post 3.48 EPS for the current year.

Barrick Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were issued a dividend of $0.1750 per share. The ex-dividend date was Monday, August 31st. This represents a $0.70 annualized dividend and a yield of 1.7%. Barrick Mining’s dividend payout ratio is presently 18.04%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Barrick Mining from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Barclays boosted their price objective on Barrick Mining from $39.00 to $42.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Canadian Imperial Bank of Commerce set a $57.00 target price on shares of Barrick Mining in a report on Wednesday, August 12th. TD set a $59.00 price target on shares of Barrick Mining and gave the company a “buy” rating in a research note on Wednesday, September 16th. Finally, Royal Bank Of Canada increased their price objective on shares of Barrick Mining from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Barrick Mining presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.90.

Get Our Latest Stock Analysis on B

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Erste Asset Management GmbH lifted its stake in Barrick Mining by 146.9% in the 4th quarter. Erste Asset Management GmbH now owns 43,700 shares of the gold and copper producer’s stock valued at $1,911,000 after purchasing an additional 26,000 shares during the last quarter. SG Americas Securities LLC raised its stake in Barrick Mining by 91.0% in the first quarter. SG Americas Securities LLC now owns 1,065,042 shares of the gold and copper producer’s stock valued at $43,443,000 after buying an additional 507,386 shares during the period. Summit Securities Group LLC raised its stake in Barrick Mining by 203.6% in the first quarter. Summit Securities Group LLC now owns 101,400 shares of the gold and copper producer’s stock valued at $4,136,000 after buying an additional 68,000 shares during the period. Independent Financial Group LLC acquired a new stake in shares of Barrick Mining in the first quarter valued at approximately $2,202,000. Finally, Groupe la Francaise lifted its position in shares of Barrick Mining by 3.3% in the second quarter. Groupe la Francaise now owns 943,327 shares of the gold and copper producer’s stock valued at $34,667,000 after buying an additional 29,816 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

About Barrick Mining

(Get Free Report)

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the exploration, development and production of gold and copper. Its activities include operating mines, advancing development projects and managing mineral reserves across multiple jurisdictions.

The company’s gold operations include Nevada Gold Mines in the United States, a joint venture in which Barrick is the operator, as well as mines and projects in Canada, the Dominican Republic, Mali, Côte d’Ivoire, Tanzania and the Democratic Republic of the Congo.

Further Reading

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