Barrick Mining Corporation (NYSE:B) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Barrick Mining Corporation has received an average rating of "Moderate Buy" from fifteen research firms, with seven holding, seven buying, and one strongly buying the stock.
• Analyst price targets for Barrick's stock have ranged from $20.00 to $28.00, with updated targets from firms such as CIBC and UBS Group indicating a bullish sentiment.
• The company's recent earnings report showed $0.35 EPS, surpassing estimates and reflecting a 13.9% year-over-year revenue increase, reaching $3 billion for the quarter.

Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX has been assigned a consensus rating of "Moderate Buy" from the fifteen analysts that are covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $24.4091.

B has been the topic of a number of recent analyst reports. UBS Group lifted their price target on shares of Barrick Mining from $22.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Royal Bank Of Canada set a $26.00 target price on shares of Barrick Mining and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Scotiabank upped their price target on shares of Barrick Mining from $20.00 to $22.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. Wall Street Zen upgraded Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. Finally, CIBC increased their target price on Barrick Mining from $24.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th.

Barrick Mining Stock Up 1.6%

NYSE:B traded up $0.36 during trading hours on Thursday, reaching $23.43. The company's stock had a trading volume of 19,359,952 shares, compared to its average volume of 19,768,131. Barrick Mining has a one year low of $15.11 and a one year high of $23.54. The business's 50-day moving average is $21.09 and its 200-day moving average is $19.34. 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 market cap of $39.97 billion, a price-to-earnings ratio of 17.62, 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 issued its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the firm posted $0.19 EPS. The firm's revenue for the quarter was up 13.9% on a year-over-year basis. Equities research analysts predict that Barrick Mining will post 1.47 EPS 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. Vanguard Group Inc. boosted its stake in Barrick Mining by 0.7% in the first quarter. Vanguard Group Inc. now owns 68,861,295 shares of the gold and copper producer's stock worth $1,337,012,000 after purchasing an additional 502,762 shares in the last quarter. First Eagle Investment Management LLC bought a new position in shares of Barrick Mining in the second quarter valued at about $822,056,000. Capital International Investors raised its holdings in shares of Barrick Mining by 136.1% in the fourth quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock valued at $516,055,000 after buying an additional 19,189,830 shares during the last quarter. TD Asset Management Inc acquired a new position in Barrick Mining during the 2nd quarter worth about $386,328,000. Finally, Ninety One UK Ltd bought a new stake in Barrick Mining during the 2nd quarter worth about $326,862,000. Institutional investors and hedge funds own 90.82% of the company's stock.

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.