Barrick Mining Corporation (NYSE:B) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Barrick Mining Corporation has been given a **"Moderate Buy"** rating by fifteen analysts, with an average 12-month price target of **$33.33**.
• Recent reports indicate that several major investors, including **Vanguard Group** and **Arrowstreet Capital**, have significantly increased their holdings in Barrick Mining, highlighting institutional confidence.
• The company's recent earnings report showed **$3.72 billion** in revenue for the quarter, exceeding expectations, while the **quarterly dividend** announced was **$0.15**, reflecting a **1.7% yield**.

Shares of Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX have been assigned an average recommendation of "Moderate Buy" from the fifteen analysts that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $33.3333.

A number of brokerages have recently issued reports on B. CIBC reissued an "outperform" rating on shares of Barrick Mining in a research report on Monday. Wall Street Zen cut shares of Barrick Mining from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Bank of America increased their target price on shares of Barrick Mining from $29.00 to $34.00 and gave the stock a "neutral" rating in a report on Friday, September 19th. BMO Capital Markets reissued a "market perform" rating on shares of Barrick Mining in a research report on Monday. Finally, Scotiabank raised their price objective on shares of Barrick Mining from $25.00 to $26.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 13th.

Hedge Funds Weigh In On Barrick Mining

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. bought a new position in shares of Barrick Mining in the 2nd quarter worth $1,459,633,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Barrick Mining in the 2nd quarter worth $1,091,122,000. First Eagle Investment Management LLC bought a new position in Barrick Mining during the 2nd quarter valued at $822,056,000. TD Asset Management Inc bought a new position in Barrick Mining during the 2nd quarter valued at $386,328,000. Finally, Ninety One UK Ltd bought a new position in Barrick Mining during the 2nd quarter valued at $326,862,000. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Price Performance

NYSE:B opened at $34.30 on Friday. Barrick Mining has a one year low of $15.11 and a one year high of $36.10. The company has a market cap of $58.41 billion, a P/E ratio of 21.57, a P/E/G ratio of 0.59 and a beta of 0.28. The firm's fifty day moving average price is $25.91 and its two-hundred day moving average price is $21.82. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.60 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The company's quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 earnings per share. Equities analysts expect that Barrick Mining will post 1.47 earnings per share for the current year.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, August 29th. Barrick Mining's dividend payout ratio (DPR) is currently 37.74%.

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.

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