Brokerages Set Barrick Mining Corporation (NYSE:B) PT at $24.05

Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX has been assigned a consensus recommendation of "Moderate Buy" from the fifteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $24.05.

A number of analysts have weighed in on B shares. Scotiabank boosted their price target on Barrick Mining from $20.00 to $22.00 and gave the stock a "sector perform" rating in a research report on Monday, April 14th. Raymond James Financial boosted their target price on Barrick Mining from $23.00 to $23.50 and gave the stock an "outperform" rating in a report on Monday, March 31st. Stifel Canada upgraded Barrick Mining to a "strong-buy" rating in a report on Wednesday, March 19th. National Bank Financial upgraded Barrick Mining to a "hold" rating in a report on Friday, March 21st. Finally, CIBC boosted their price objective on shares of Barrick Mining from $22.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 11th.

Barrick Mining Stock Down 0.7%

Shares of B stock traded down $0.15 during trading on Wednesday, hitting $20.98. 16,368,611 shares of the company were exchanged, compared to its average volume of 3,307,345. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.16 and a current ratio of 2.87. The firm has a market capitalization of $35.97 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 0.35 and a beta of 0.27. The business's 50-day simple moving average is $19.53 and its 200 day simple moving average is $18.10. Barrick Mining has a twelve month low of $17.41 and a twelve month high of $47.50.

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

Barrick Mining Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.40 annualized dividend and a yield of 1.91%. Barrick Mining's dividend payout ratio (DPR) is 30.08%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Crowley Wealth Management Inc. acquired a new stake in Barrick Mining in the 4th quarter valued at about $26,000. Vega Investment Solutions acquired a new stake in shares of Barrick Mining in the fourth quarter valued at approximately $31,000. Nexus Investment Management ULC acquired a new stake in shares of Barrick Mining in the first quarter valued at approximately $32,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Barrick Mining in the first quarter valued at approximately $32,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Barrick Mining in the 4th quarter valued at $37,000. 90.82% of the stock is currently 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.