Barrick Mining (NYSE:B) Stock Price Down 1.6% - Time to Sell?

Key Points

• B fell 1.6% to about $45.42 on Wednesday with mid-day volume ~9.0M shares, roughly 44% below its average daily volume.
• Analysts have a consensus rating of "Moderate Buy" with an average target of $55.25, though views vary from JPMorgan's "Overweight" ($68) to Zacks' recent downgrade to "Hold."
• Barrick beat quarterly estimates (EPS $1.04 vs. $0.85; revenue $5.98B vs. $5.15B) and raised its quarterly dividend to $0.42, implying an annualized yield of about 3.7%.

Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX was down 1.6% on Wednesday . The stock traded as low as $44.40 and last traded at $45.4230. Approximately 9,018,355 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 16,031,231 shares. The stock had previously closed at $46.14.

Analyst Ratings Changes

A number of analysts have commented on the company. Zacks Research lowered Barrick Mining from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 13th. Cormark upgraded Barrick Mining from a "hold" rating to a "moderate buy" rating in a report on Tuesday, November 11th. BNP Paribas Exane raised Barrick Mining to a "neutral" rating and set a $50.00 target price on the stock in a research report on Friday, December 5th. JPMorgan Chase & Co. initiated coverage on Barrick Mining in a report on Thursday, January 29th. They set an "overweight" rating and a $68.00 price target for the company. Finally, UBS Group set a $55.00 price target on Barrick Mining in a research report on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $55.25.

Barrick Mining Stock Performance

The company's 50 day simple moving average is $47.94 and its 200 day simple moving average is $39.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.33 and a current ratio of 2.92. The stock has a market cap of $76.10 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 1.43 and a beta of 0.41.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.19. The firm had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The business's revenue was up 44.6% compared to the same quarter last year. Analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be given a $0.42 dividend. This is an increase from Barrick Mining's previous quarterly dividend of $0.18. This represents a $1.68 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, February 27th. Barrick Mining's payout ratio is presently 57.34%.

Institutional Investors Weigh In On Barrick Mining

Several large investors have recently made changes to their positions in B. Financial Consulate Inc. raised its holdings in shares of Barrick Mining by 1,042.0% in the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer's stock worth $25,000 after purchasing an additional 521 shares during the period. Westside Investment Management Inc. purchased a new stake in Barrick Mining in the fourth quarter worth $25,000. Arlington Trust Co LLC bought a new stake in shares of Barrick Mining in the third quarter valued at $26,000. Intesa Sanpaolo Wealth Management purchased a new position in shares of Barrick Mining during the 4th quarter valued at $26,000. Finally, JPL Wealth Management LLC bought a new position in shares of Barrick Mining during the 3rd quarter worth $28,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Company Profile

Barrick Gold Corporation, commonly known as Barrick, is a Toronto‑headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large‑scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.

The company's activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.

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