Barrick Mining (NYSE:B) Stock Price Expected to Rise, TD Securities Analyst Says

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 target upped by stock analysts at TD Securities from $30.00 to $38.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm currently has a "buy" rating on the gold and copper producer's stock. TD Securities' price objective would indicate a potential upside of 7.09% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. Cibc World Mkts raised shares of Barrick Mining from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 12th. Wall Street Zen cut shares of Barrick Mining from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. CIBC boosted 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. Scotiabank boosted their price objective on shares of Barrick Mining from $25.00 to $26.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 13th. Finally, Raymond James Financial boosted their price objective on shares of Barrick Mining from $32.00 to $36.00 and gave the company an "outperform" rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $33.33.

Barrick Mining Trading Up 0.4%

Shares of B stock traded up $0.13 during trading hours on Monday, reaching $35.49. 6,294,433 shares of the stock were exchanged, compared to its average volume of 19,828,021. Barrick Mining has a 12-month low of $15.11 and a 12-month high of $36.10. 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 company's 50-day moving average price is $25.12 and its 200-day moving average price is $21.54. The firm has a market capitalization of $60.42 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 0.58 and a beta of 0.27.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Penserra Capital Management LLC raised its stake in shares of Barrick Mining by 1,919.0% during the 1st quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer's stock worth $56,000 after acquiring an additional 2,821 shares in the last quarter. Hedges Asset Management LLC purchased a new position in shares of Barrick Mining in the second quarter worth $1,249,000. Chemistry Wealth Management LLC purchased a new position in shares of Barrick Mining in the second quarter worth $246,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Barrick Mining by 14.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer's stock worth $1,141,000 after buying an additional 9,149 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Barrick Mining by 24.4% in the first quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer's stock worth $404,000 after buying an additional 4,082 shares during the last quarter. 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.