Barrick Mining Corporation (NYSE:B) Stock Has Consensus Price Target of $52.90 According to Brokerages

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) have received an average recommendation of “Moderate Buy” from the twenty brokerages that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $53.39.

A number of brokerages have weighed in on B. Canadian Imperial Bank of Commerce set a $57.00 price target on Barrick Mining in a research report on Wednesday, August 12th. UBS Group cut their price objective on Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. JPMorgan Chase & Co. lifted their target price on Barrick Mining from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. Barclays boosted their target price on Barrick Mining from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. Finally, TD set a $59.00 price target on Barrick Mining and gave the company a “buy” rating in a research note on Wednesday, September 16th.

Barrick Mining Stock Up 2.7%

Barrick Mining stock opened at $41.06 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.36. The company’s 50-day moving average is $42.88 and its 200-day moving average is $40.86. The firm has a market capitalization of $67.12 billion, a PE ratio of 10.58, a P/E/G ratio of 1.20 and a beta of 0.48. Barrick Mining has a fifty-two week low of $30.35 and a fifty-two week high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. The business had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same period last year, the business posted $0.47 EPS. Barrick Mining’s revenue was up 43.8% on a year-over-year basis. Sell-side analysts anticipate that Barrick Mining will post 3.48 earnings per share for the current year.

Barrick Mining Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a dividend of $0.1750 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, August 31st. Barrick Mining’s payout ratio is 18.04%.

Hedge Funds Weigh In On Barrick Mining

Several institutional investors and hedge funds have recently modified their holdings of B. Ascentis Independent Advisors acquired a new stake in shares of Barrick Mining during the 1st quarter worth about $28,000. Motiv8 Investments LLC acquired a new position in Barrick Mining in the 4th quarter valued at about $31,000. Key Financial Inc grew its stake in Barrick Mining by 137.5% in the 1st quarter. Key Financial Inc now owns 753 shares of the gold and copper producer’s stock valued at $31,000 after buying an additional 436 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Barrick Mining in the 4th quarter valued at about $37,000. Finally, Continuum Advisory LLC bought a new position in Barrick Mining in the 2nd quarter valued at about $32,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barrick Mining Company Profile

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.