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

Shares of Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX have received a consensus recommendation of "Moderate Buy" from the fifteen ratings firms that are presently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $24.05.

B has been the subject of several research reports. Raymond James Financial raised their price target on Barrick Mining from $23.00 to $23.50 and gave the company an "outperform" rating in a report on Monday, March 31st. BMO Capital Markets initiated coverage on Barrick Mining in a report on Wednesday, April 16th. They set a "market perform" rating for the company. CIBC raised their price target on Barrick Mining from $22.00 to $24.00 and gave the company a "neutral" rating in a report on Wednesday, June 11th. Royal Bank Of Canada set a $26.00 target price on Barrick Mining and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Finally, Wall Street Zen raised Barrick Mining from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 5th.

Barrick Mining Stock Performance

Barrick Mining stock traded up $0.15 during mid-day trading on Friday, hitting $21.22. 8,632,540 shares of the company's stock traded hands, compared to its average volume of 4,103,115. The firm has a 50 day simple moving average of $19.97 and a two-hundred day simple moving average of $18.59. Barrick Mining has a fifty-two week low of $17.41 and a fifty-two week high of $47.50. The stock has a market cap of $36.38 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 0.34 and a beta of 0.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 2.16.

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 the consensus estimate of $3.15 billion. During the same quarter last year, the firm posted $0.19 EPS. The company's quarterly revenue was up 13.9% on a year-over-year basis. On average, research analysts expect that Barrick Mining will post 1.47 EPS for the current fiscal year.

Barrick Mining Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Friday, May 30th. Barrick Mining's dividend payout ratio (DPR) is presently 30.08%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital International Investors grew its position in 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 acquiring an additional 19,189,830 shares during the last quarter. Causeway Capital Management LLC bought a new stake in shares of Barrick Mining during the fourth quarter worth about $172,225,000. Wellington Management Group LLP grew its holdings in shares of Barrick Mining by 17.5% during the fourth quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer's stock worth $996,802,000 after purchasing an additional 9,598,292 shares during the last quarter. FIL Ltd grew its holdings in shares of Barrick Mining by 236.7% during the fourth quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer's stock worth $105,692,000 after purchasing an additional 4,791,663 shares during the last quarter. Finally, Capital International Inc. CA bought a new stake in shares of Barrick Mining during the fourth quarter worth about $57,991,000. Institutional investors and hedge funds own 90.82% of the company's stock.

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.