Barrick Mining (NYSE:B) Hits New 12-Month High - Still a Buy?

Key Points

• Barrick Mining's stock price reached a new 52-week high of $23.57 during trading, closing at $23.29 with a trading volume of 3,980,919 shares.
• Analyst ratings vary, with Royal Bank of Canada setting a price target of $26.00 and multiple firms providing ratings ranging from "buy" to "sector perform," leading to an average rating of "Moderate Buy."
• The company reported $3.72 billion in revenue for the last quarter, exceeding analysts' expectations and showing a 16.4% increase compared to the previous year.

Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $23.57 and last traded at $23.29, with a volume of 3980919 shares trading hands. The stock had previously closed at $22.84.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Cibc World Mkts raised Barrick Mining from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Scotiabank set a $26.00 target price on Barrick Mining and gave the stock a "sector perform" rating in a research note on Wednesday. CIBC raised Barrick Mining from a "neutral" rating to an "outperform" rating in a research note on Tuesday. Wall Street Zen cut Barrick Mining from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Royal Bank Of Canada set a $26.00 target price on Barrick Mining and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Five analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $24.77.

Barrick Mining Trading Up 2.0%

The stock has a market cap of $41.10 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 0.36 and a beta of 0.27. The business has a 50 day moving average of $21.53 and a 200-day moving average of $19.66. The company has a current ratio of 3.21, a quick ratio of 2.16 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced 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. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%. The company's revenue was up 16.4% on a year-over-year basis. During the same period last year, the firm earned $0.32 earnings per share. On average, analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current year.

Institutional Investors Weigh In On Barrick Mining

A number of institutional investors have recently modified their holdings of B. Vermillion Wealth Management Inc. acquired a new position in shares of Barrick Mining during the second quarter worth approximately $25,000. Concord Wealth Partners bought a new stake in shares of Barrick Mining during the 2nd quarter worth about $26,000. Crowley Wealth Management Inc. acquired a new stake in Barrick Mining in the 2nd quarter worth about $26,000. Ameriflex Group Inc. acquired a new position in shares of Barrick Mining in the 2nd quarter valued at approximately $27,000. Finally, Trifecta Capital Advisors LLC bought a new stake in shares of Barrick Mining during the 2nd quarter valued at approximately $27,000. Institutional investors and hedge funds 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.