Barrick Mining (NYSE:B) Coverage Initiated by Analysts at Citigroup

Analysts at Citigroup initiated coverage on shares of Barrick Mining (NYSE:B) (TSE:ABX) in a research note issued to investors on Thursday. The firm set a “neutral” rating and a $45.00 price target on the gold and copper producer’s stock. Citigroup’s price target suggests a potential upside of 0.00% from the company’s current price.

B has been the subject of several other research reports. JPMorgan Chase & Co. boosted their target price on shares of Barrick Mining from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Canadian Imperial Bank of Commerce set a $57.00 price target on shares of Barrick Mining in a report on Wednesday, August 12th. UBS Group cut their price target on Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Wall Street Zen lowered Barrick Mining from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Scotiabank decreased their price objective on Barrick Mining from $57.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Barrick Mining has an average rating of “Moderate Buy” and an average price target of $52.36.

Barrick Mining Price Performance

NYSE:B traded up $0.87 during trading hours on Thursday, reaching $45.00. 943,350 shares of the company traded hands, compared to its average volume of 13,039,698. The firm’s 50-day moving average is $39.80 and its 200-day moving average is $41.52. The stock has a market cap of $74.06 billion, a P/E ratio of 11.60, a P/E/G ratio of 1.23 and a beta of 0.51. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.36. Barrick Mining has a 1-year low of $26.82 and a 1-year high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%.The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the previous year, the firm posted $0.47 earnings per share. The business’s revenue for the quarter was up 43.8% compared to the same quarter last year. Equities research analysts expect that Barrick Mining will post 3.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. FIL Ltd increased its holdings in shares of Barrick Mining by 85.3% in the 4th quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock valued at $1,311,169,000 after acquiring an additional 13,853,587 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Barrick Mining by 22.8% in the fourth quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock worth $2,413,699,000 after purchasing an additional 10,287,544 shares during the period. Ameriprise Financial Inc. bought a new stake in Barrick Mining during the second quarter valued at $211,263,000. Canada Pension Plan Investment Board acquired a new stake in shares of Barrick Mining during the second quarter worth $172,230,000. Finally, Mackenzie Financial Corp raised its holdings in shares of Barrick Mining by 61.9% during the fourth quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer’s stock worth $909,104,000 after purchasing an additional 7,870,411 shares during the period. Institutional investors own 90.82% of the company’s stock.

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.