Barrick Mining (NYSE:B) Shares Up 3.6% – Here’s Why

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) rose 3.6% during mid-day trading on Friday . The stock traded as high as $51.09 and last traded at $51.0350. Approximately 19,075,778 shares were traded during mid-day trading, an increase of 34% from the average daily volume of 14,274,733 shares. The stock had previously closed at $49.24.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on B shares. TD Cowen restated a “buy” rating on shares of Barrick Mining in a report on Wednesday, November 26th. Zacks Research lowered Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 13th. Citigroup raised shares of Barrick Mining from a “hold” rating to a “buy” rating in a research note on Monday, November 24th. DZ Bank raised shares of Barrick Mining to a “strong-buy” rating in a research report on Monday. Finally, BNP Paribas Exane upgraded shares of Barrick Mining to a “neutral” rating and set a $50.00 price target for the company in a research note on Friday, December 5th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Barrick Mining has an average rating of “Buy” and an average target price of $46.91.

Barrick Mining Stock Performance

The stock has a market capitalization of $85.50 billion, a P/E ratio of 24.65, a PEG ratio of 0.41 and a beta of 0.41. The company’s fifty day simple moving average is $43.70 and its two-hundred day simple moving average is $33.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.33 and a current ratio of 2.94.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same quarter in the previous year, the business posted $0.09 earnings per share. Barrick Mining’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, equities analysts forecast that Barrick Mining Corporation 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, December 15th. Investors of record on Friday, November 28th were given a dividend of $0.175 per share. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, November 28th. Barrick Mining’s dividend payout ratio (DPR) is currently 33.82%.

Hedge Funds Weigh In On Barrick Mining

Several hedge funds and other institutional investors have recently made changes to their positions in B. Westside Investment Management Inc. bought a new position in Barrick Mining in the fourth quarter valued at approximately $25,000. Financial Consulate Inc. raised its holdings in shares of Barrick Mining by 1,042.0% during the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after buying an additional 521 shares in the last quarter. Lodestone Wealth Management LLC acquired a new stake in Barrick Mining in the fourth quarter valued at about $35,000. Nisa Investment Advisors LLC acquired a new position in Barrick Mining during the fourth quarter worth about $35,000. Finally, Arlington Trust Co LLC bought a new position in shares of Barrick Mining in the third quarter worth about $26,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

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.