Barrick Mining (NYSE:B) Price Target Raised to $38.00

Key Points

• Barrick Mining has received a price target increase from TD Securities, raising it from $30.00 to $38.00, indicating a potential upside of 7.27% from its previous close.
• The company has reported a net margin of 19.99% and a year-over-year revenue increase of 16.4%, with earnings per share meeting the consensus estimate at $0.47.
• Currently, 90.82% of Barrick Mining's stock is held by institutional investors, reflecting strong interest from hedge funds in the company's performance.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX had its price objective lifted by equities research analysts at TD Securities from $30.00 to $38.00 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the gold and copper producer's stock. TD Securities' price objective suggests a potential upside of 7.27% from the company's previous close.

B has been the subject of several other research reports. Scotiabank increased their target price on shares of Barrick Mining from $25.00 to $26.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 13th. Bank of America increased their price objective on shares of Barrick Mining from $29.00 to $34.00 and gave the company a "neutral" rating in a research report on Friday. Royal Bank Of Canada set a $26.00 price objective on shares of Barrick Mining and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. CIBC increased their price objective on shares of Barrick Mining from $30.00 to $38.00 and gave the company an "outperformer" rating in a research report on Monday. Finally, Cibc World Mkts raised shares of Barrick Mining from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $32.00.

Barrick Mining Trading Up 7.4%

Shares of B traded up $2.44 on Monday, reaching $35.43. 38,502,841 shares of the company's stock were exchanged, compared to its average volume of 19,835,561. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $60.32 billion, a P/E ratio of 22.30, a price-to-earnings-growth ratio of 0.58 and a beta of 0.27. The business has a 50 day moving average price of $24.84 and a two-hundred day moving average price of $21.42. Barrick Mining has a 12 month low of $15.11 and a 12 month high of $35.70.

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

Institutional Investors Weigh In On Barrick Mining

Hedge funds have recently made changes to their positions in the stock. Vermillion Wealth Management Inc. acquired a new stake in Barrick Mining during the 2nd quarter worth approximately $25,000. Crowley Wealth Management Inc. bought a new stake in shares of Barrick Mining in the 2nd quarter valued at $26,000. Concord Wealth Partners bought a new stake in shares of Barrick Mining in the 2nd quarter valued at $26,000. Ameriflex Group Inc. bought a new stake in shares of Barrick Mining in the 2nd quarter valued at $27,000. Finally, Trifecta Capital Advisors LLC bought a new stake in shares of Barrick Mining in the 2nd quarter valued at $27,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

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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