Barrick Mining Corporation (NYSE:B) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Barrick Mining Corporation has received a consensus rating of "Moderate Buy" from analysts, with an average price target of $41.00.
• The company reported a 16.4% increase in revenue year-over-year, posting $0.47 EPS for the latest quarter, meeting analysts' estimates.
• Barrick Mining cut its quarterly dividend to $0.15 per share, resulting in an annualized yield of 1.7%.

Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX has been given an average recommendation of "Moderate Buy" by the seventeen analysts that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $41.00.

A number of brokerages recently issued reports on B. UBS Group boosted their price objective on Barrick Mining from $35.00 to $39.00 and gave the company a "buy" rating in a research note on Thursday. Citigroup boosted their price objective on Barrick Mining from $21.00 to $38.00 and gave the company a "neutral" rating in a research note on Wednesday, October 15th. Zacks Research downgraded Barrick Mining from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. National Bank Financial upgraded Barrick Mining from a "sector perform" rating to an "outperform" rating in a research note on Monday, September 22nd. Finally, Raymond James Financial set a $40.00 target price on Barrick Mining and gave the company an "outperform" rating in a research report on Friday, October 10th.

Barrick Mining Trading Up 4.3%

Shares of NYSE:B opened at $34.75 on Tuesday. The stock has a 50 day moving average of $29.95 and a 200 day moving average of $23.61. The company has a market cap of $59.18 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 0.42 and a beta of 0.30. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. Barrick Mining has a 12-month low of $15.11 and a 12-month high of $36.40.

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

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $0.15 per share. 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 is currently 37.74%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in shares of Barrick Mining by 56.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,583,059 shares of the gold and copper producer's stock valued at $53,365,000 after acquiring an additional 569,000 shares during the last quarter. Merit Financial Group LLC boosted its position in shares of Barrick Mining by 19.5% during the 3rd quarter. Merit Financial Group LLC now owns 32,074 shares of the gold and copper producer's stock valued at $1,051,000 after acquiring an additional 5,230 shares during the last quarter. Ascent Group LLC boosted its position in shares of Barrick Mining by 2.9% during the 3rd quarter. Ascent Group LLC now owns 14,514 shares of the gold and copper producer's stock valued at $476,000 after acquiring an additional 404 shares during the last quarter. Cobblestone Asset Management LLC purchased a new stake in Barrick Mining during the 3rd quarter valued at $203,000. Finally, Fruth Investment Management lifted its position in Barrick Mining by 5.3% in the third quarter. Fruth Investment Management now owns 19,800 shares of the gold and copper producer's stock worth $648,000 after buying an additional 1,000 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors.

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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