Barrick Mining (NYSE:B) Raised to "Strong-Buy" at Wall Street Zen

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Saturday.

B has been the topic of a number of other reports. Stifel Canada raised Barrick Mining to a "strong-buy" rating in a research note on Wednesday, March 19th. Raymond James Financial lifted their price objective on Barrick Mining from $23.00 to $23.50 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Citigroup cut their price objective on Barrick Mining from $21.00 to $17.00 and set a "neutral" rating on the stock in a research note on Monday, March 31st. Royal Bank Of Canada set a $26.00 price objective on Barrick Mining and gave the stock an "outperform" rating in a research note on Wednesday. Finally, CIBC lifted their price objective on Barrick Mining from $22.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 11th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $24.05.

Barrick Mining Trading Up 1.1%

Shares of NYSE:B traded up $0.23 during midday trading on Friday, hitting $21.45. 7,362,036 shares of the stock were exchanged, compared to its average volume of 3,817,188. The stock has a market capitalization of $36.76 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 0.34 and a beta of 0.28. 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 business's 50-day moving average price is $19.74 and its 200 day moving average price is $18.38. Barrick Mining has a 12 month low of $17.41 and a 12 month high of $47.50.

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

Institutional Investors Weigh In On Barrick Mining

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Barrick Mining by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 68,861,295 shares of the gold and copper producer's stock valued at $1,337,012,000 after purchasing an additional 502,762 shares during the period. Wellington Management Group LLP grew its stake in shares of Barrick Mining by 17.5% during the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer's stock worth $996,802,000 after acquiring an additional 9,598,292 shares during the period. Capital International Investors grew its stake in shares of Barrick Mining by 136.1% during the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock worth $516,055,000 after acquiring an additional 19,189,830 shares during the period. TD Asset Management Inc grew its stake in shares of Barrick Mining by 1.6% during the 1st quarter. TD Asset Management Inc now owns 17,950,892 shares of the gold and copper producer's stock worth $348,479,000 after acquiring an additional 275,015 shares during the period. Finally, Mackenzie Financial Corp grew its stake in shares of Barrick Mining by 1.9% during the 1st quarter. Mackenzie Financial Corp now owns 15,614,848 shares of the gold and copper producer's stock worth $303,161,000 after acquiring an additional 296,472 shares during the period. Institutional investors 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.