Barrick Mining (NYSE:B) Trading Down 2.1% - Here's Why

Key Points

• Shares of Barrick Mining fell about 2.1% to roughly $44.50 (session low $44.06) on Thursday, with volume roughly 50% below the average session level.
• Wall Street is broadly positive — the stock carries a consensus rating of "Moderate Buy" with an average price target of $55.25 (including 2 Strong Buy, 17 Buy and 3 Hold ratings).
• Barrick beat quarterly expectations with $1.04 EPS vs. $0.85 est. and revenue of $5.98B (up 44.6% YoY), and raised its quarterly dividend to $0.42 (annualized $1.68, ~3.8% yield).

Shares of Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX fell 2.1% on Thursday . The stock traded as low as $44.06 and last traded at $44.50. 7,906,623 shares were traded during trading, a decline of 50% from the average session volume of 15,869,267 shares. The stock had previously closed at $45.44.

Wall Street Analyst Weigh In

Several brokerages recently commented on B. Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 price target on shares of Barrick Mining in a research report on Sunday, December 7th. Raymond James Financial boosted their price objective on shares of Barrick Mining from $40.00 to $42.00 and gave the company an "outperform" rating in a research note on Tuesday, November 25th. Wall Street Zen upgraded Barrick Mining from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 7th. Bank of America upgraded Barrick Mining from a "neutral" rating to a "buy" rating and lifted their target price for the company from $38.00 to $48.00 in a report on Monday, November 24th. Finally, Scotiabank boosted their price target on Barrick Mining from $43.00 to $63.00 and gave the company an "outperform" rating in a research report on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Barrick Mining has an average rating of "Moderate Buy" and an average target price of $55.25.

Barrick Mining Stock Down 2.1%

The firm's 50-day moving average price is $47.97 and its 200-day moving average price is $39.79. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 2.33. The company has a market cap of $74.55 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 1.44 and a beta of 0.41.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.19. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The firm had revenue of $5.98 billion during the quarter, compared to analysts' expectations of $5.15 billion. Barrick Mining's revenue for the quarter was up 44.6% on a year-over-year basis. Sell-side analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, February 27th. This is an increase from Barrick Mining's previous quarterly dividend of $0.18. Barrick Mining's dividend payout ratio (DPR) is 57.34%.

Institutional Trading of Barrick Mining

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. purchased a new position in shares of Barrick Mining in the second quarter valued at $1,459,633,000. Arrowstreet Capital Limited Partnership purchased a new stake in Barrick Mining during the 2nd quarter worth $1,091,122,000. Capital International Investors lifted its holdings in Barrick Mining by 35.9% in the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer's stock worth $3,340,709,000 after buying an additional 26,921,219 shares in the last quarter. Geode Capital Management LLC purchased a new position in Barrick Mining in the 2nd quarter valued at about $307,855,000. Finally, CIBC Asset Management Inc boosted its position in Barrick Mining by 316.0% in the 3rd quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer's stock valued at $601,115,000 after buying an additional 13,891,886 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company's stock.

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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