Barrick Mining (NYSE:B) Trading 2.4% Higher - Should You Buy?

Key Points

• Barrick beat estimates for the quarter with EPS of $1.04 vs. $0.85 expected and revenue of $5.98B vs. $5.15B, a 44.6% year‑over‑year revenue increase and a strong net margin of 29.45%.
• The company raised its quarterly dividend to $0.42 (annualized $1.68), a jump from $0.18, yielding about 4.3% with a dividend payout ratio of 57.34%.
• Analysts hold a consensus Moderate Buy on the stock with an average price target of $54.17, and JPMorgan recently initiated coverage with an Overweight rating and a $68 target.

Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX shares traded up 2.4% during trading on Thursday . The stock traded as high as $39.55 and last traded at $39.3590. 13,266,871 shares traded hands during trading, a decline of 10% from the average session volume of 14,748,171 shares. The stock had previously closed at $38.45.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JPMorgan Chase & Co. assumed coverage on Barrick Mining in a research report on Thursday, January 29th. They set an "overweight" rating and a $68.00 price target for the company. ATB Cormark Capital Markets lowered Barrick Mining from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Weiss Ratings restated a "buy (b)" rating on shares of Barrick Mining in a research report on Friday, March 27th. Zacks Research lowered Barrick Mining from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 13th. Finally, Canadian Imperial Bank of Commerce lowered their price target on Barrick Mining to $63.00 and set an "outperformer" rating for the company in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $54.17.

Barrick Mining Stock Performance

The stock has a market capitalization of $65.95 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 1.41 and a beta of 0.50. The stock has a fifty day moving average of $43.04 and a 200-day moving average of $42.32. The company has a quick ratio of 2.33, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.19. The firm had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.Barrick Mining's revenue for the quarter was up 44.6% on a year-over-year basis. Equities analysts anticipate that Barrick Mining Corporation will post 3.55 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.3%. This is a boost from Barrick Mining's previous quarterly dividend of $0.18. The ex-dividend date was Friday, February 27th. Barrick Mining's dividend payout ratio (DPR) is 57.34%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital International Investors boosted its holdings in Barrick Mining by 35.9% in the third quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer's stock valued at $3,340,709,000 after purchasing an additional 26,921,219 shares during the period. Vanguard Group Inc. lifted its holdings in Barrick Mining by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 70,878,168 shares of the gold and copper producer's stock worth $2,327,991,000 after buying an additional 767,544 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Barrick Mining by 22.8% during the 4th quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer's stock worth $2,413,699,000 after buying an additional 10,287,544 shares during the last quarter. FIL Ltd lifted its holdings in Barrick Mining by 85.3% during the 4th quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer's stock worth $1,311,169,000 after buying an additional 13,853,587 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Barrick Mining by 61.9% during the 4th quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer's stock worth $909,104,000 after buying an additional 7,870,411 shares during the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

About Barrick Mining

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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