Barrick Mining (NYSE:B) Sees Unusually-High Trading Volume - Still a Buy?

Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX saw unusually-high trading volume on Tuesday . Approximately 4,242,787 shares were traded during trading, an increase of 26% from the previous session's volume of 3,361,031 shares.The stock last traded at $20.77 and had previously closed at $21.18.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on B shares. UBS Group increased their price objective on Barrick Mining from $22.00 to $25.00 and gave the company a "buy" rating in a report on Friday, April 11th. CIBC raised their price target on shares of Barrick Mining from $22.00 to $24.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 11th. Citigroup dropped their price objective on shares of Barrick Mining from $21.00 to $17.00 and set a "neutral" rating on the stock in a report on Monday, March 31st. Scotiabank upped their price target on shares of Barrick Mining from $20.00 to $22.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. Finally, Royal Bank Of Canada increased their price target on Barrick Mining from $23.00 to $26.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $24.05.

Barrick Mining Trading Down 3.5%

The stock has a market cap of $35.07 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 0.33 and a beta of 0.27. 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 company has a 50 day moving average of $19.58 and a two-hundred day moving average of $18.21.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. The business had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same period in the previous year, the business earned $0.19 earnings per share. The business's revenue was up 13.9% compared to the same quarter last year. Sell-side analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Friday, May 30th. Barrick Mining's payout ratio is 30.08%.

Institutional Investors Weigh In On Barrick Mining

Several institutional investors have recently bought and sold shares of the company. Crowley Wealth Management Inc. acquired a new stake in shares of Barrick Mining in the fourth quarter worth approximately $26,000. Vega Investment Solutions purchased a new position in Barrick Mining in the 4th quarter valued at $31,000. Nexus Investment Management ULC acquired a new stake in Barrick Mining during the 1st quarter worth $32,000. Cary Street Partners Investment Advisory LLC acquired a new stake in Barrick Mining during the 1st quarter worth $32,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Barrick Mining during the fourth quarter worth $37,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

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.