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

Key Points

• Shares of Barrick Mining reached a new 52-week high of $27.01, with the stock last trading at $26.77.
• Analysts have raised their price targets for Barrick Mining, with Scotiabank setting a target of $26.00 and maintaining a "sector perform" rating.
• Barrick Mining recently declared a $0.15 quarterly dividend, representing a 2.2% dividend yield, and reported earnings that met consensus expectations, showing strong revenue growth year-over-year.

Shares of Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX reached a new 52-week high on Tuesday . The company traded as high as $27.01 and last traded at $26.77, with a volume of 486744 shares traded. The stock had previously closed at $26.63.

Analysts Set New Price Targets

A number of research firms have recently weighed in on B. Scotiabank raised their price target on shares of Barrick Mining from $25.00 to $26.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 13th. Wall Street Zen downgraded shares of Barrick Mining from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. CIBC raised shares of Barrick Mining from a "neutral" rating to an "outperform" rating in a report on Tuesday, August 12th. Royal Bank Of Canada set a $26.00 price objective on shares of Barrick Mining and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Finally, Cibc World Mkts raised shares of Barrick Mining from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Barrick Mining presently has a consensus rating of "Moderate Buy" and an average target price of $24.85.

Barrick Mining Trading Up 1.6%

The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. The company has a 50 day simple moving average of $22.60 and a two-hundred day simple moving average of $20.36. The company has a market cap of $46.15 billion, a PE ratio of 17.02, a PEG ratio of 0.48 and a beta of 0.27.

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

Barrick Mining Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. Barrick Mining's payout ratio is presently 37.74%.

Institutional Investors Weigh In On Barrick Mining

Several large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in shares of Barrick Mining by 21.8% in the 1st quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer's stock valued at $62,000 after buying an additional 563 shares in the last quarter. Sapient Capital LLC grew its stake in shares of Barrick Mining by 0.5% in the 1st quarter. Sapient Capital LLC now owns 114,572 shares of the gold and copper producer's stock valued at $2,227,000 after buying an additional 624 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of Barrick Mining by 2.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer's stock valued at $558,000 after buying an additional 710 shares in the last quarter. Nicholas Hoffman & Company LLC. grew its stake in shares of Barrick Mining by 1.5% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer's stock valued at $924,000 after buying an additional 716 shares in the last quarter. Finally, Edge Wealth Management LLC grew its stake in shares of Barrick Mining by 6.1% in the 1st quarter. Edge Wealth Management LLC now owns 13,110 shares of the gold and copper producer's stock valued at $255,000 after buying an additional 755 shares in the last quarter. Institutional investors 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.

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