Barrick Mining Corporation (NYSE:B) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX have been given a consensus recommendation of "Moderate Buy" by the fifteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $24.05.

Several equities analysts have recently commented on B shares. BMO Capital Markets began coverage on Barrick Mining in a research note on Wednesday, April 16th. They set a "market perform" rating on the stock. Citigroup cut their target price on shares of Barrick Mining from $21.00 to $17.00 and set a "neutral" rating on the stock in a research report on Monday, March 31st. Stifel Canada raised shares of Barrick Mining to a "strong-buy" rating in a research report on Wednesday, March 19th. Royal Bank Of Canada increased their price objective on shares of Barrick Mining from $23.00 to $26.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Finally, CIBC lifted their price objective on shares of Barrick Mining from $22.00 to $24.00 and gave the company a "neutral" rating in a report on Wednesday, June 11th.

Barrick Mining Price Performance

NYSE:B traded down $0.25 during trading hours on Wednesday, reaching $21.11. The stock had a trading volume of 13,602,335 shares, compared to its average volume of 3,186,661. The stock has a market capitalization of $36.18 billion, a PE ratio of 15.87, a PEG ratio of 0.36 and a beta of 0.27. Barrick Mining has a 52 week low of $17.41 and a 52 week high of $47.50. The company has a 50 day moving average price of $19.44 and a two-hundred day moving average price of $18.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.16 and a current ratio of 2.87.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.15 billion. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. Barrick Mining's revenue was up 13.9% on a year-over-year basis. During the same period last year, the company earned $0.19 earnings per share. As a group, sell-side analysts anticipate that Barrick Mining 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. Stockholders of record on Friday, May 30th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Friday, May 30th. Barrick Mining's payout ratio is 30.08%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Crowley Wealth Management Inc. purchased a new position in Barrick Mining during the fourth quarter worth about $26,000. Vega Investment Solutions acquired a new stake in shares of Barrick Mining during the 4th quarter worth approximately $31,000. Nexus Investment Management ULC purchased a new stake in shares of Barrick Mining during the 1st quarter valued at approximately $32,000. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Barrick Mining during the 1st quarter valued at approximately $32,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Barrick Mining in the fourth quarter valued at approximately $37,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barrick Mining Company Profile

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.