JPMorgan Chase & Co. Lowers Barrick Mining (NYSE:B) Price Target to $50.00

Barrick Mining (NYSE:B) (TSE:ABX) had its price objective lowered by equities researchers at JPMorgan Chase & Co. from $58.00 to $50.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the gold and copper producer’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 38.22% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Barclays reduced their price objective on Barrick Mining from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 15th. UBS Group reduced their target price on shares of Barrick Mining from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Canadian Imperial Bank of Commerce decreased their price target on shares of Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research note on Tuesday, April 21st. Citigroup reiterated a “positive” rating on shares of Barrick Mining in a report on Wednesday, July 15th. Finally, Weiss Ratings lowered shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.46.

Barrick Mining Price Performance

Shares of B stock traded up $1.28 during trading hours on Tuesday, hitting $36.17. The company’s stock had a trading volume of 3,855,730 shares, compared to its average volume of 13,554,946. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $39.38 and a 200-day moving average of $42.94. Barrick Mining has a twelve month low of $20.94 and a twelve month high of $54.69. The stock has a market cap of $60.17 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of 0.76 and a beta of 0.48.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.18. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The business’s revenue was up 66.7% on a year-over-year basis. As a group, equities research analysts anticipate that Barrick Mining will post 3.61 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Bogart Wealth LLC lifted its position in Barrick Mining by 3.5% in the fourth quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer’s stock worth $281,000 after purchasing an additional 218 shares during the period. Parvin Asset Management LLC lifted its holdings in shares of Barrick Mining by 0.7% during the 4th quarter. Parvin Asset Management LLC now owns 33,385 shares of the gold and copper producer’s stock worth $1,454,000 after acquiring an additional 225 shares during the period. Silver Oak Securities Incorporated lifted its holdings in shares of Barrick Mining by 2.9% during the 1st quarter. Silver Oak Securities Incorporated now owns 8,810 shares of the gold and copper producer’s stock worth $359,000 after acquiring an additional 246 shares during the period. Mmbg Investment Advisors CO. boosted its position in shares of Barrick Mining by 0.6% during the 4th quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer’s stock valued at $1,892,000 after acquiring an additional 254 shares in the last quarter. Finally, S.A. Mason LLC increased its stake 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 acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 90.82% of the company’s stock.

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.