Barrick Mining (NYSE:B) Stock Price Down 4.8% – Should You Sell?

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) fell 4.8% during mid-day trading on Monday . The company traded as low as $43.30 and last traded at $43.9960. 11,931,313 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 19,534,787 shares. The stock had previously closed at $46.21.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. BMO Capital Markets reiterated a “market perform” rating on shares of Barrick Mining in a research note on Monday, September 22nd. Cormark upgraded Barrick Mining from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 11th. Cowen reiterated a “buy” rating on shares of Barrick Mining in a research note on Wednesday, November 26th. UBS Group boosted their target price on shares of Barrick Mining from $39.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Finally, Scotiabank upgraded shares of Barrick Mining from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $27.50 to $43.00 in a research report on Thursday, October 23rd. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $47.17.

Barrick Mining Trading Down 4.8%

The company has a quick ratio of 2.33, a current ratio of 2.94 and a debt-to-equity ratio of 0.14. The firm’s fifty day moving average is $38.34 and its two-hundred day moving average is $30.28. The firm has a market cap of $74.07 billion, a P/E ratio of 21.25, a PEG ratio of 0.47 and a beta of 0.40.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. Barrick Mining had a return on equity of 9.48% and a net margin of 24.53%.The business had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $4.20 billion. During the same period in the previous year, the firm posted $0.09 EPS. The business’s revenue was up 23.2% on a year-over-year basis. Analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were given a dividend of $0.175 per share. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, November 28th. Barrick Mining’s payout ratio is 33.82%.

Institutional Trading of Barrick Mining

A number of hedge funds and other institutional investors have recently modified their holdings of B. Vanguard Group Inc. purchased a new stake in shares of Barrick Mining in the 2nd quarter worth approximately $1,459,633,000. Arrowstreet Capital Limited Partnership purchased a new stake in 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 in the 2nd quarter worth $822,056,000. Capital International Investors raised its stake in shares of Barrick Mining by 35.9% in the third 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 last quarter. Finally, TD Asset Management Inc purchased a new position in shares of Barrick Mining in the second quarter worth $386,328,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

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.