Barrick Mining (NYSE:B) Stock Price Down 3% - Should You Sell?

Key Points

• Shares fell ~3% midday to $45.35 (intraday low $44.38) on Thursday with volume down ~20% versus average, though analysts maintain a consensus "Moderate Buy" rating and a $55.25 price target.
• Quarterly results beat expectations: EPS $1.04 vs. $0.85 est. and revenue $5.98B vs. $5.15B, with revenue up 44.6% year-over-year and strong margins (net margin ~29.5%).
• Dividend was sharply raised to $0.42 quarterly (annualized $1.68) for a ~3.7% yield from the prior $0.18 payment, and institutional ownership remains very high (~90.8%).

Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX shares dropped 3% during mid-day trading on Thursday . The stock traded as low as $44.38 and last traded at $45.35. Approximately 13,117,109 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 16,470,990 shares. The stock had previously closed at $46.77.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 7th. Jefferies Financial Group reissued a "buy" rating and set a $55.00 price objective on shares of Barrick Mining in a research report on Sunday, December 7th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Barrick Mining in a research report on Monday, December 29th. ATB Cormark Capital Markets raised shares of Barrick Mining to a "moderate buy" rating in a research note on Monday, February 9th. Finally, Bank of America raised Barrick Mining from a "neutral" rating to a "buy" rating and lifted their target price for the company from $38.00 to $48.00 in a research report on Monday, November 24th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $55.25.

Barrick Mining Stock Performance

The stock has a market capitalization of $75.98 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 1.45 and a beta of 0.41. The company has a quick ratio of 2.33, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The company's fifty day simple moving average is $47.88 and its 200 day simple moving average is $39.07.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.19. The company had revenue of $5.98 billion during the quarter, compared to analysts' expectations of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The company's quarterly revenue was up 44.6% on a year-over-year basis. On average, equities research 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 issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a yield of 3.7%. This is an increase from Barrick Mining's previous quarterly dividend of $0.18. Barrick Mining's payout ratio is presently 57.34%.

Institutional Investors Weigh In On Barrick Mining

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. acquired a new position in shares of Barrick Mining in the second quarter valued at approximately $1,459,633,000. Measured Wealth Private Client Group LLC acquired a new stake in Barrick Mining during the 2nd quarter worth approximately $696,000. Philadelphia Trust Co. bought a new stake in Barrick Mining during the 2nd quarter worth approximately $1,412,000. CIBC Asset Management Inc grew its holdings in Barrick Mining by 316.0% during the 3rd quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer's stock worth $601,115,000 after acquiring an additional 13,891,886 shares during the last quarter. Finally, Cadence Wealth Management LLC acquired a new position in Barrick Mining in the 2nd quarter valued at approximately $1,112,000. 90.82% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.