Barrick Mining (NYSE:B) Trading Up 2.2% - Here's What Happened

Key Points

• Shares of Barrick Mining rose about 2.2% on Friday to roughly $41.10 (intraday high $41.30) on volume of ~11.47M shares, down 23% from its average daily volume and up from a $40.20 close.
• Barrick beat quarterly estimates with EPS of $1.04 vs. $0.85 and revenue of $5.98B (up 44.6% YoY), and the company raised its quarterly dividend to $0.42 (annualized $1.68, ~4.1% yield).
• Analyst sentiment remains positive: Citigroup raised its price target to $48, MarketBeat shows a consensus of "Moderate Buy" with an average price target of $54.17, and most analysts rate the stock as Buy or better.

Shares of Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX were up 2.2% during trading on Friday . The stock traded as high as $41.30 and last traded at $41.0970. Approximately 11,473,271 shares were traded during trading, a decline of 23% from the average daily volume of 14,833,007 shares. The stock had previously closed at $40.20.

Analyst Ratings Changes

Several analysts have recently commented on B shares. Citigroup raised their price objective on shares of Barrick Mining from $38.00 to $48.00 and gave the company a "neutral" rating in a research report on Monday, February 9th. Wall Street Zen upgraded shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 7th. Zacks Research downgraded shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 13th. ATB Cormark Capital Markets downgraded shares of Barrick Mining from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 7th. Finally, DZ Bank upgraded shares of Barrick Mining to a "strong-buy" rating in a report on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $54.17.

Barrick Mining Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.33 and a current ratio of 2.92. The company has a market capitalization of $68.86 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.52 and a beta of 0.50. The business's fifty day simple moving average is $43.67 and its 200-day simple moving average is $42.08.

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

Barrick Mining Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were issued a $0.42 dividend. This is a boost from Barrick Mining's previous quarterly dividend of $0.18. The ex-dividend date was Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.1%. Barrick Mining's payout ratio is presently 57.34%.

Institutional Trading of Barrick Mining

Large investors have recently made changes to their positions in the business. Westside Investment Management Inc. bought a new stake in shares of Barrick Mining in the 4th quarter worth about $25,000. Financial Consulate Inc. increased its holdings in shares of Barrick Mining by 1,042.0% in the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer's stock worth $25,000 after buying an additional 521 shares during the last quarter. Intesa Sanpaolo Wealth Management bought a new stake in shares of Barrick Mining in the 4th quarter worth about $26,000. Laurel Wealth Advisors LLC bought a new stake in shares of Barrick Mining in the 4th quarter worth about $30,000. Finally, Motiv8 Investments LLC bought a new stake in shares of Barrick Mining in the 4th quarter worth about $31,000. 90.82% of the stock is currently owned by 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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