Barrick Mining (NYSE:B) Sees Unusually-High Trading Volume - Still a Buy?

Shares of Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX saw an uptick in trading volume on Monday . 2,913,589 shares traded hands during trading, an increase of 1% from the previous session's volume of 2,876,924 shares.The stock last traded at $21.58 and had previously closed at $21.59.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on B. National Bankshares reaffirmed an "outperform" rating on shares of Barrick Mining in a research note on Wednesday, April 2nd. CIBC increased their price objective on Barrick Mining from $22.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, June 11th. National Bank Financial upgraded Barrick Mining to a "hold" rating in a research report on Friday, March 21st. Scotiabank increased their price objective on Barrick Mining from $20.00 to $22.00 and gave the company a "sector perform" rating in a research report on Monday, April 14th. Finally, Citigroup cut their price objective on Barrick Mining from $21.00 to $17.00 and set a "neutral" rating for the company in a research report on Monday, March 31st. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $24.05.

Barrick Mining Trading Down 1.1%

The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 2.16. The company has a fifty day moving average of $19.52 and a 200-day moving average of $18.07. The firm has a market capitalization of $36.18 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 0.35 and a beta of 0.27.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.15 billion. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. Barrick Mining's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company earned $0.19 earnings per share. On average, sell-side analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.90%. The ex-dividend date was Friday, May 30th. Barrick Mining's payout ratio is 30.08%.

Hedge Funds Weigh In On Barrick Mining

Several hedge funds have recently bought and sold shares of B. Principal Securities Inc. increased its position in Barrick Mining by 119.4% during the fourth quarter. Principal Securities Inc. now owns 4,848 shares of the gold and copper producer's stock worth $75,000 after buying an additional 2,638 shares during the last quarter. Allworth Financial LP grew its position in shares of Barrick Mining by 1,864.2% in the fourth quarter. Allworth Financial LP now owns 21,174 shares of the gold and copper producer's stock valued at $334,000 after purchasing an additional 20,096 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Barrick Mining by 10.7% in the fourth quarter. Principal Financial Group Inc. now owns 535,461 shares of the gold and copper producer's stock valued at $8,299,000 after purchasing an additional 51,848 shares during the last quarter. D.A. Davidson & CO. grew its position in shares of Barrick Mining by 32.2% in the fourth quarter. D.A. Davidson & CO. now owns 99,048 shares of the gold and copper producer's stock valued at $1,535,000 after purchasing an additional 24,145 shares during the last quarter. Finally, Atria Wealth Solutions Inc. lifted its stake in shares of Barrick Mining by 48.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 33,366 shares of the gold and copper producer's stock valued at $517,000 after buying an additional 10,840 shares during the period. 90.82% of the stock is owned by institutional investors and hedge funds.

About Barrick Mining

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.   In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.