Barrick Mining (NYSE:B) Stock Price Expected to Rise, TD Securities Analyst Says

Key Points

• TD Securities has raised its price target for Barrick Mining from $38.00 to $46.00, indicating a potential upside of 35.85% from the stock's previous close.
• The company reported a 16.4% year-over-year increase in quarterly revenue, reaching $3.72 billion, with earnings per share of $0.47, meeting analysts' expectations.
• Barrick Mining is currently rated as a "Moderate Buy" by analysts, with two strong buy ratings, nine buy ratings, and five hold ratings among recent assessments.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX had its price objective lifted by investment analysts at TD Securities from $38.00 to $46.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the gold and copper producer's stock. TD Securities' price objective would suggest a potential upside of 35.85% from the company's previous close.

Other equities analysts also recently issued research reports about the company. National Bankshares upgraded Barrick Mining to an "outperform" rating in a research note on Monday, September 22nd. BMO Capital Markets reiterated a "market perform" rating on shares of Barrick Mining in a research note on Monday, September 22nd. UBS Group upped their price objective on Barrick Mining from $26.00 to $35.00 and gave the company a "buy" rating in a research note on Friday, September 19th. Cibc World Mkts upgraded Barrick Mining from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 12th. Finally, Bank of America upped their price objective on Barrick Mining from $29.00 to $34.00 and gave the company a "neutral" rating in a research note on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $34.22.

Barrick Mining Stock Up 1.9%

B stock traded up $0.64 during mid-day trading on Wednesday, reaching $33.86. 11,970,686 shares of the company traded hands, compared to its average volume of 20,318,008. The stock has a market cap of $57.66 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 0.56 and a beta of 0.30. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. Barrick Mining has a fifty-two week low of $15.11 and a fifty-two week high of $36.10. The firm's 50 day moving average price is $27.86 and its 200 day moving average price is $22.66.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.47. The business 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 quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS. As a group, equities research analysts predict that Barrick Mining will post 1.47 EPS for the current fiscal year.

Institutional Trading of Barrick Mining

Several hedge funds have recently bought and sold shares of the stock. Vermillion Wealth Management Inc. purchased a new stake in shares of Barrick Mining during the 2nd quarter valued at about $25,000. Crowley Wealth Management Inc. bought a new position in Barrick Mining in the 2nd quarter worth about $26,000. Concord Wealth Partners purchased a new stake in shares of Barrick Mining in the 2nd quarter worth approximately $26,000. Ameriflex Group Inc. purchased a new stake in shares of Barrick Mining in the 2nd quarter worth approximately $27,000. Finally, Trifecta Capital Advisors LLC purchased a new stake in shares of Barrick Mining in the 2nd quarter worth approximately $27,000. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.