Barrick Mining (NYSE:B) Sets New 12-Month High - Should You Buy?

Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX shares hit a new 52-week high on Tuesday . The company traded as high as $21.89 and last traded at $21.75, with a volume of 10654695 shares. The stock had previously closed at $21.31.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Scotiabank increased their price objective on Barrick Mining from $20.00 to $22.00 and gave the stock a "sector perform" rating in a report on Monday, April 14th. CIBC boosted their price objective on shares of Barrick Mining from $24.00 to $28.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Wall Street Zen raised shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 5th. BMO Capital Markets started coverage on shares of Barrick Mining in a research note on Wednesday, April 16th. They set a "market perform" rating on the stock. Finally, UBS Group increased their price target on shares of Barrick Mining from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Barrick Mining currently has an average rating of "Moderate Buy" and an average price target of $24.41.

Barrick Mining Stock Up 1.1%

The stock has a market capitalization of $37.15 billion, a PE ratio of 16.37, a PEG ratio of 0.33 and a beta of 0.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.16 and a current ratio of 2.87. The business has a 50 day moving average of $20.54 and a two-hundred day moving average of $18.98.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the firm posted $0.19 EPS. Barrick Mining's revenue was up 13.9% on a year-over-year basis. Analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.84%. 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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vermillion Wealth Management Inc. acquired a new position in shares of Barrick Mining during the 2nd quarter valued at about $25,000. Concord Wealth Partners acquired a new stake in shares of Barrick Mining during the 2nd quarter worth approximately $26,000. Crowley Wealth Management Inc. purchased a new position in Barrick Mining in the second quarter worth approximately $26,000. Ameriflex Group Inc. acquired a new stake in Barrick Mining during the second quarter worth $27,000. Finally, Trifecta Capital Advisors LLC acquired a new position in shares of Barrick Mining in the 2nd quarter valued at $27,000. Hedge funds and other institutional investors 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.