Barrick Mining (NYSE:B) Upgraded by Wall Street Zen to Strong-Buy Rating

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

Other equities analysts also recently issued research reports about the company. Royal Bank Of Canada set a $26.00 price objective on Barrick Mining and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. CIBC increased their target price on Barrick Mining from $22.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, June 11th. Citigroup reduced their price target on Barrick Mining from $21.00 to $17.00 and set a "neutral" rating for the company in a research report on Monday, March 31st. National Bank Financial upgraded Barrick Mining to a "hold" rating in a research note on Friday, March 21st. Finally, Stifel Canada upgraded shares of Barrick Mining to a "strong-buy" rating in a research note on Wednesday, March 19th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $24.05.

Barrick Mining Price Performance

NYSE:B traded up $0.15 during trading hours on Friday, hitting $21.61. 9,899,713 shares of the stock traded hands, compared to its average volume of 3,871,814. The company has a market cap of $37.05 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 0.34 and a beta of 0.28. Barrick Mining has a 1 year low of $17.41 and a 1 year high of $47.50. The stock has a 50 day moving average price of $19.79 and a 200 day moving average price of $18.46. The company has a quick ratio of 2.16, a current ratio of 2.87 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the firm earned $0.19 EPS. The business's revenue was up 13.9% on a year-over-year basis. Sell-side analysts forecast that Barrick Mining will post 1.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Barrick Mining

A number of hedge funds have recently bought and sold shares of the business. Crowley Wealth Management Inc. purchased a new stake in shares of Barrick Mining during the fourth quarter worth $26,000. Vega Investment Solutions purchased a new stake in Barrick Mining in the 4th quarter valued at about $31,000. Nexus Investment Management ULC acquired a new position in Barrick Mining in the first quarter valued at about $32,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Barrick Mining during the first quarter valued at about $32,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Barrick Mining in the 4th quarter valued at approximately $37,000. 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.