Barrick Mining (NYSE:B) Given a $59.00 Price Target at TD

Key Points

• TD assigned Barrick Mining a $59 price target and “buy” rating, implying 38.58% upside from the stock’s $42.58 trading price. Analysts overall maintain a “Moderate Buy” consensus with an average target of $52.90.
• Barrick’s shares declined 0.3% to $42.58, while the company reported quarterly EPS of $0.82, narrowly exceeding estimates; revenue rose 43.8% year over year to $4.19 billion.
• Institutional investors own 90.82% of Barrick’s stock, with several firms increasing their positions during the second quarter, including NewEdge Advisors, which boosted its stake by 231.3%.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX has been given a $59.00 price objective by research analysts at TD in a research note issued on Wednesday, BayStreet reports. The firm presently has a "buy" rating on the gold and copper producer's stock. TD's target price suggests a potential upside of 38.58% from the company's current price.

A number of other research analysts also recently weighed in on B. Sanford C. Bernstein reduced their target price on Barrick Mining from $61.00 to $56.50 and set an "outperform" rating on the stock in a report on Wednesday, September 9th. Royal Bank Of Canada lifted their price target on Barrick Mining from $49.00 to $53.00 and gave the company an "outperform" rating in a research report on Wednesday. Canadian Imperial Bank of Commerce set a $57.00 price objective on Barrick Mining in a report on Wednesday, August 12th. Wall Street Zen lowered Barrick Mining from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, UBS Group dropped 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. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $52.90.

Barrick Mining Trading Down 0.3%

NYSE B traded down $0.12 during trading on Wednesday, hitting $42.58. The company had a trading volume of 5,146,205 shares, compared to its average volume of 12,804,480. The company's fifty day moving average is $41.01 and its 200-day moving average is $41.24. Barrick Mining has a one year low of $28.38 and a one year high of $54.69. The company has a current ratio of 3.01, a quick ratio of 2.36 and a debt-to-equity ratio of 0.13. The company has a market cap of $70.07 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 1.24 and a beta of 0.51.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly 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 company had revenue of $4.19 billion for the quarter, compared to analysts' expectations of $5.10 billion. During the same quarter in the previous year, the company earned $0.47 earnings per share. Barrick Mining's quarterly revenue was up 43.8% on a year-over-year basis. On average, sell-side analysts predict that Barrick Mining will post 3.48 earnings per share for the current year.

Institutional Investors Weigh In On Barrick Mining

Several institutional investors and hedge funds have recently made changes to their positions in B. Sequoia Financial Advisors LLC grew its position in shares of Barrick Mining by 7.0% during the second quarter. Sequoia Financial Advisors LLC now owns 38,490 shares of the gold and copper producer's stock worth $1,414,000 after purchasing an additional 2,510 shares in the last quarter. Engineers Gate Manager LP boosted its stake in Barrick Mining by 17.5% in the 2nd quarter. Engineers Gate Manager LP now owns 490,619 shares of the gold and copper producer's stock worth $18,020,000 after purchasing an additional 73,226 shares during the period. Pinnacle Wealth Management Advisory Group LLC boosted its stake in Barrick Mining by 13.9% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 13,229 shares of the gold and copper producer's stock worth $486,000 after purchasing an additional 1,617 shares during the period. Integrated Wealth Concepts LLC grew its holdings in Barrick Mining by 9.6% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 147,024 shares of the gold and copper producer's stock valued at $5,400,000 after buying an additional 12,902 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Barrick Mining by 231.3% during the second quarter. NewEdge Advisors LLC now owns 138,414 shares of the gold and copper producer's stock valued at $5,084,000 after buying an additional 96,636 shares during the last quarter. Institutional investors own 90.82% of the company's stock.

Barrick Mining Company Profile

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the production of gold and copper. Its activities include the exploration, development, construction and operation of mines, as well as processing ore into refined metal products.

The company operates and holds interests in mining assets across several regions, including North America, South America, Africa, the Middle East and Papua New Guinea. Its portfolio includes gold operations such as Nevada Gold Mines in the United States, Pueblo Viejo in the Dominican Republic, Veladero in Argentina, Kibali in the Democratic Republic of the Congo, and North Mara and Bulyanhulu in Tanzania.

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