Barrick Mining (NYSE:B) Trading Down 1.3% - Here's Why

Key Points

• Shares of Barrick traded down about 1.3% to ~$40.19 on Thursday with ~11.5 million shares changing hands, a 23% decline from average session volume.
• The company posted a strong quarterly earnings beat — $1.04 EPS vs. $0.85 expected and revenue of $5.98B (up 44.6% YoY) — and raised its quarterly dividend to $0.42 (annualized $1.68, ~4.2% yield).
• Analyst sentiment is broadly positive: MarketBeat shows an average rating of Moderate Buy with an average price target of $54.17, while recent notes range from JPMorgan's $68 overweight to UBS trimming its target to $50.

Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX's stock price traded down 1.3% during mid-day trading on Thursday . The company traded as low as $39.40 and last traded at $40.1940. 11,505,138 shares were traded during mid-day trading, a decline of 23% from the average session volume of 14,875,775 shares. The stock had previously closed at $40.73.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Barrick Mining in a research note on Thursday, January 29th. They set an "overweight" rating and a $68.00 target price on the stock. UBS Group decreased their target price on shares of Barrick Mining from $55.00 to $50.00 and set a "buy" rating on the stock in a research note on Friday, March 27th. Zacks Research cut shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 13th. Wall Street Zen raised shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 7th. Finally, Canaccord Genuity Group decreased their target price on shares of Barrick Mining to $77.00 and set a "buy" rating on the stock in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Barrick Mining presently has an average rating of "Moderate Buy" and an average price target of $54.17.

Barrick Mining Trading Down 1.3%

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 has a market cap of $67.35 billion, a P/E ratio of 13.72, a PEG ratio of 1.51 and a beta of 0.50. The firm's 50 day moving average is $43.78 and its two-hundred day moving average is $42.09.

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 for the quarter, topping the consensus estimate of $0.85 by $0.19. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The company had revenue of $5.98 billion for the quarter, compared to analysts' expectations of $5.15 billion. The business's quarterly revenue was up 44.6% on a year-over-year basis. As a group, equities research analysts anticipate that Barrick Mining Corporation will post 3.61 EPS for the current year.

Barrick Mining Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were paid a $0.42 dividend. This is a positive change from Barrick Mining's previous quarterly dividend of $0.18. This represents a $1.68 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, February 27th. Barrick Mining's payout ratio is presently 57.34%.

Institutional Trading of Barrick Mining

Institutional investors have recently modified their holdings of the business. Bogart Wealth LLC boosted its position in Barrick Mining by 3.5% during the fourth quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer's stock valued at $281,000 after acquiring an additional 218 shares during the last quarter. Parvin Asset Management LLC boosted its position in Barrick Mining by 0.7% during the fourth quarter. Parvin Asset Management LLC now owns 33,385 shares of the gold and copper producer's stock valued at $1,454,000 after acquiring an additional 225 shares during the last quarter. Silver Oak Securities Incorporated boosted its position in Barrick Mining by 2.9% during the first quarter. Silver Oak Securities Incorporated now owns 8,810 shares of the gold and copper producer's stock valued at $359,000 after acquiring an additional 246 shares during the last quarter. Mmbg Investment Advisors CO. boosted its position in Barrick Mining by 0.6% during the fourth quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer's stock valued at $1,892,000 after acquiring an additional 254 shares during the last quarter. Finally, S.A. Mason LLC boosted its position in Barrick Mining by 1.3% during the fourth quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer's stock valued at $1,007,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 90.82% of the company's stock.

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.

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