RBC Dominion Securities Reiterates “$53.00” Price Target for Barrick Mining (NYSE:B)

RBC Dominion Securities set a $53.00 price target on Barrick Mining (NYSE:B) (TSE:ABX) in a report published on Thursday,BayStreet reports. The brokerage currently has an outperform rating on the gold and copper producer’s stock.

A number of other brokerages have also recently issued reports on B. TD set a $59.00 target price on shares of Barrick Mining and gave the company a “buy” rating in a report on Wednesday, September 16th. UBS Group lowered their price target on Barrick Mining from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Royal Bank Of Canada raised their price objective on Barrick Mining from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Canadian Imperial Bank of Commerce cut Barrick Mining from a “sector outperform” rating to a “neutral” rating and reduced their price objective for the stock from $57.00 to $49.00 in a report on Friday, October 16th. Finally, Weiss Ratings raised Barrick Mining from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.59.

Barrick Mining Price Performance

Shares of NYSE B opened at $38.11 on Thursday. The company has a current ratio of 3.01, a quick ratio of 2.36 and a debt-to-equity ratio of 0.13. Barrick Mining has a twelve month low of $30.98 and a twelve month high of $54.69. The stock has a 50 day moving average of $42.74 and a two-hundred day moving average of $40.89. The stock has a market cap of $62.31 billion, a P/E ratio of 9.82, a P/E/G ratio of 1.18 and a beta of 0.48.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.10 billion. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. The company’s revenue for the quarter was up 43.8% compared to the same quarter last year. During the same period last year, the firm posted $0.47 earnings per share. On average, research analysts forecast that Barrick Mining will post 3.50 earnings per share for the current year.

Barrick Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were issued a dividend of $0.1750 per share. The ex-dividend date was Monday, August 31st. This represents a $0.70 annualized dividend and a dividend yield of 1.8%. Barrick Mining’s payout ratio is presently 18.04%.

Hedge Funds Weigh In On Barrick Mining

Several hedge funds and other institutional investors have recently bought and sold shares of B. Kingswood Wealth Advisors LLC grew its position in Barrick Mining by 32.7% in the third quarter. Kingswood Wealth Advisors LLC now owns 11,112 shares of the gold and copper producer’s stock valued at $452,000 after acquiring an additional 2,738 shares in the last quarter. Guardian Investment Management lifted its position in shares of Barrick Mining by 3.3% during the third quarter. Guardian Investment Management now owns 36,150 shares of the gold and copper producer’s stock worth $1,470,000 after purchasing an additional 1,150 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Barrick Mining by 1.4% in the third quarter. Signaturefd LLC now owns 43,078 shares of the gold and copper producer’s stock valued at $1,752,000 after purchasing an additional 577 shares during the period. Citizens Financial Group Inc. RI boosted its stake in shares of Barrick Mining by 164.5% in the third quarter. Citizens Financial Group Inc. RI now owns 18,602 shares of the gold and copper producer’s stock valued at $757,000 after purchasing an additional 11,569 shares during the period. Finally, Gibbs Wealth Management boosted its stake in shares of Barrick Mining by 44.5% in the third quarter. Gibbs Wealth Management now owns 54,135 shares of the gold and copper producer’s stock valued at $2,202,000 after purchasing an additional 16,660 shares during the period. 90.82% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Barrick Mining

Here are the key news stories impacting Barrick Mining this week:

• Positive Sentiment: JPMorgan raised its price target to $55 from $52 and maintained a constructive view of Barrick, implying substantial upside from recent trading levels. JPMorgan raises target for Barrick Mining stock
• Positive Sentiment: RBC Dominion Securities assigned an “outperform” rating and a $53 target, reinforcing the case that Barrick’s valuation does not fully reflect its potential. RBC Dominion Securities rating
• Positive Sentiment: Investors are also watching mine development, production expansion, dividends and share buybacks as possible catalysts for a future revaluation. Barrick Mining catalysts for value revaluation
• Neutral Sentiment: Coverage is assessing whether Barrick’s mine-development pipeline will change its production mix. The impact depends on project execution, timing, capital spending and the profitability of future gold and copper output. Barrick Mining mine development and production mix
• Negative Sentiment: Freedom Broker downgraded Barrick to “hold” and cut its price target to $46 from $54, citing reduced near-term EBITDA expectations, operational risks and valuation concerns. The action contributed to a broader selloff in major gold producers. Freedom Broker downgrades Barrick Mining
• Negative Sentiment: A surge in diesel prices is raising concern about higher mining costs and squeezed margins across the industry, particularly because fuel is a significant variable expense for producers. Diesel price surge putting mining profits to test

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.