Barrick Mining (NYSE:B) Trading Down 3.9% - Here's What Happened

Key Points

• Shares fell 3.9% on Thursday to $37.46, with about 16.6 million shares traded—slightly above average volume.
• Barrick beat quarterly expectations, reporting EPS of $1.04 vs. $0.85 expected and revenue of $5.98 billion (up 44.6% year-over-year), with a 29.45% net margin and 12.1% ROE.
• Analyst sentiment is broadly positive (average rating "Moderate Buy") with a consensus target of $55.25, and the company raised its quarterly dividend to $0.42 (annualized yield ~4.5%).

Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX's share price dropped 3.9% on Thursday . The stock traded as low as $37.36 and last traded at $37.4650. Approximately 16,571,152 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 16,208,684 shares. The stock had previously closed at $38.97.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on B shares. TD Cowen reissued a "buy" rating on shares of Barrick Mining in a research note on Wednesday, November 26th. JPMorgan Chase & Co. started coverage on Barrick Mining in a report on Thursday, January 29th. They set an "overweight" rating and a $68.00 price target for the company. BNP Paribas Exane raised Barrick Mining to a "neutral" rating and set a $50.00 price objective for the company in a research report on Friday, December 5th. Wall Street Zen raised shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 7th. Finally, Scotiabank increased their price objective on shares of Barrick Mining from $43.00 to $63.00 and gave the stock an "outperform" rating in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $55.25.

Barrick Mining Price Performance

The company has a market capitalization of $62.77 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.26 and a beta of 0.41. 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 stock's 50 day simple moving average is $46.59 and its 200-day simple moving average is $40.73.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, beating 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 business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.15 billion. The company's revenue was up 44.6% on a year-over-year basis. As a group, equities analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.5%. This is a positive change from Barrick Mining's previous quarterly dividend of $0.18. The ex-dividend date was Friday, February 27th. Barrick Mining's payout ratio is presently 57.34%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of B. Cetera Investment Advisers acquired a new stake in Barrick Mining in the 2nd quarter valued at about $4,225,000. Ensign Peak Advisors Inc purchased a new stake in shares of Barrick Mining during the second quarter worth approximately $2,363,000. MAI Capital Management purchased a new stake in shares of Barrick Mining during the second quarter worth approximately $162,000. AlphaCore Capital LLC acquired a new stake in Barrick Mining in the second quarter valued at approximately $68,000. Finally, American Century Companies Inc. purchased a new position in Barrick Mining in the second quarter worth approximately $61,592,000. 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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