Barrick Mining (NYSE:B) Trading 3.5% Higher – Still a Buy?

Barrick Mining Corporation (NYSE:B) (TSE:ABX)’s stock price rose 3.5% on Wednesday . The company traded as high as $48.69 and last traded at $48.3020. Approximately 10,872,841 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 17,020,506 shares. The stock had previously closed at $46.65.

Wall Street Analysts Forecast Growth

B has been the subject of a number of analyst reports. Raymond James Financial lifted their price objective on Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, November 25th. DZ Bank upgraded shares of Barrick Mining to a “strong-buy” rating in a research report on Monday, January 19th. Wall Street Zen upgraded shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 price objective on shares of Barrick Mining in a research note on Sunday, December 7th. Finally, TD Cowen reiterated a “buy” rating on shares of Barrick Mining in a research note on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Barrick Mining currently has a consensus rating of “Moderate Buy” and an average price target of $55.25.

Barrick Mining Price Performance

The company has a quick ratio of 2.33, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The stock’s 50-day moving average price is $46.77 and its 200-day moving average price is $37.19. The company has a market capitalization of $80.92 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 0.39 and a beta of 0.40.

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, beating analysts’ consensus estimates of $0.85 by $0.19. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.15 billion. The company’s quarterly revenue was up 44.6% on a year-over-year basis. Equities research analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, February 27th. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.5%. Barrick Mining’s dividend payout ratio is presently 23.89%.

Institutional Trading of Barrick Mining

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in B. Bogart Wealth LLC lifted its position in Barrick Mining by 3.5% during the 4th quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer’s stock valued at $281,000 after purchasing an additional 218 shares during the period. Parvin Asset Management LLC raised its stake in shares of Barrick Mining by 0.7% during the fourth quarter. Parvin Asset Management LLC now owns 33,385 shares of the gold and copper producer’s stock worth $1,454,000 after buying an additional 225 shares during the last quarter. Mmbg Investment Advisors CO. lifted its holdings in Barrick Mining by 0.6% in the fourth quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer’s stock valued at $1,892,000 after buying an additional 254 shares during the period. S.A. Mason LLC lifted its holdings in Barrick Mining by 1.3% in the fourth quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer’s stock valued at $1,007,000 after buying an additional 300 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its stake in Barrick Mining by 1.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 31,212 shares of the gold and copper producer’s stock valued at $1,359,000 after acquiring an additional 302 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

About Barrick Mining

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.