Barrick Mining (NYSE:B) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Barrick Mining from “buy” to “hold,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $52.57.
• Barrick reported quarterly EPS of $0.82, slightly exceeding estimates, while revenue rose 43.8% year over year to $4.19 billion. The stock opened at $41.64 and has traded between $23.43 and $54.69 over the past year.
• Gold prices near record highs and progress toward a North American IPO support the outlook, but regulatory scrutiny of a proposed Philippine settlement and differing analyst price targets remain risks.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

A number of other equities research analysts also recently commented on B. UBS Group cut their price objective on Barrick Mining from $54.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Royal Bank Of Canada reduced their target price on Barrick Mining from $51.00 to $49.00 and set an "outperform" rating for the company in a report on Thursday, July 9th. Bank of America dropped their price target on Barrick Mining from $56.00 to $54.00 and set a "buy" rating on the stock in a research note on Tuesday. Barclays boosted their price objective on Barrick Mining from $39.00 to $42.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, Canadian Imperial Bank of Commerce set a $57.00 price objective on shares of Barrick Mining in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.57.

Barrick Mining Stock Performance

B opened at $41.64 on Friday. The company has a current ratio of 3.01, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13. The business's 50 day moving average is $38.27 and its 200-day moving average is $41.78. The stock has a market cap of $68.54 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 0.79 and a beta of 0.47. Barrick Mining has a twelve month low of $23.43 and a twelve month high of $54.69.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%.The firm had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the previous year, the business earned $0.47 EPS. The firm's revenue for the quarter was up 43.8% on a year-over-year basis. On average, analysts predict that Barrick Mining will post 3.51 earnings per share for the current year.

Hedge Funds Weigh In On Barrick Mining

A number of large investors have recently made changes to their positions in the business. Intesa Sanpaolo Wealth Management purchased a new position in Barrick Mining during the fourth quarter valued at approximately $26,000. Ascentis Independent Advisors acquired a new stake in shares of Barrick Mining during the 1st quarter valued at $28,000. Laurel Wealth Advisors LLC purchased a new position in shares of Barrick Mining during the 4th quarter valued at $30,000. Motiv8 Investments LLC purchased a new position in shares of Barrick Mining during the 4th quarter valued at $31,000. Finally, Key Financial Inc increased its stake in shares of Barrick Mining by 137.5% in the first quarter. Key Financial Inc now owns 753 shares of the gold and copper producer's stock worth $31,000 after acquiring an additional 436 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company's stock.

Key Barrick Mining News

Here are the key news stories impacting Barrick Mining this week:

• Positive Sentiment: Gold’s proximity to record highs is improving the outlook for Barrick’s gold production revenue, cash flow and margins. The company also produces copper, providing additional commodity exposure. Barrick Mining in Focus as Gold Stays Near Record Highs
• Positive Sentiment: JPMorgan raised its Barrick price target from $50 to $52 and maintained an “overweight” rating, implying substantial upside from the referenced share price. The target increase signals continued confidence in the company’s valuation and operating outlook.
• Positive Sentiment: Newmont consented to Barrick’s planned North American IPO as part of an agreement resolving disputes related to Nevada Gold Mines. Removing this disclosed transaction hurdle reduces a major execution risk and may help advance the IPO plans. Newmont Removed a Major IPO Risk
• Neutral Sentiment: Despite clearing the IPO obstacle, Barrick shares previously fell more than 6%, indicating that investors may have been focused on valuation, execution uncertainty or profit-taking rather than treating the Newmont agreement as an immediate catalyst. Barrick Mining Cleared Its IPO Hurdle
• Neutral Sentiment: TD lowered its price target to $59, contrasting with JPMorgan’s increase, suggesting analysts remain positive overall but differ on Barrick’s near-term valuation.
• Negative Sentiment: Philippine regulators will review a proposed Marinduque-related settlement amid concerns about rehabilitation obligations. Further scrutiny could create legal, environmental or financial uncertainty for Barrick. DENR to Weigh In on Marinduque-Barrick Settlement

Barrick Mining Company Profile

Barrick Gold Corporation, commonly known as Barrick, is a Toronto‑headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large‑scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.

The company's activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.

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