Barrick Mining Corporation (NYSE:B) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Barrick Mining, with 17 buy ratings, five holds and one strong buy. The average 12-month price target is $52.63, above the reported share price of $43.48.
• Barrick reported quarterly earnings of $0.82 per share, slightly exceeding estimates, while revenue rose 43.8% year over year to $4.19 billion, below the $5.10 billion analyst forecast.
• The company declared a quarterly dividend of $0.175 per share, equivalent to an annualized $0.70 payout and a 1.6% yield. Institutional investors own approximately 90.82% of the stock.

Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX has received a consensus recommendation of "Moderate Buy" from the twenty-three analysts that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $52.6333.

B has been the topic of several recent research reports. Barclays upped their target price on shares of Barrick Mining from $39.00 to $42.00 and gave the company an "equal weight" rating in a research report on Thursday, August 13th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Barrick Mining in a research note on Friday, August 7th. Bank of America lowered their price objective on shares of Barrick Mining from $56.00 to $54.00 and set a "buy" rating for the company in a research report on Tuesday, August 11th. Citigroup raised their price objective on Barrick Mining from $41.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, September 3rd. Finally, Scotiabank decreased their price objective on Barrick Mining from $57.00 to $55.00 and set an "outperform" rating for the company in a report on Wednesday, August 12th.

Barrick Mining Stock Down 2.5%

B opened at $43.48 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.36 and a current ratio of 3.01. The firm's fifty day moving average is $40.70 and its 200 day moving average is $41.38. The stock has a market cap of $71.56 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51. Barrick Mining has a fifty-two week low of $28.38 and a fifty-two week high of $54.69.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.01. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. The firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the prior year, the business earned $0.47 earnings per share. Barrick Mining's revenue for the quarter was up 43.8% on a year-over-year basis. On average, sell-side analysts forecast that Barrick Mining will post 3.56 earnings per share for the current fiscal year.

Barrick Mining Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.175 per share. The ex-dividend date is Monday, August 31st. This represents a $0.70 dividend on an annualized basis and a yield of 1.6%. Barrick Mining's dividend payout ratio is currently 18.04%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in B. Williamson Legacy Group LLC purchased a new position in shares of Barrick Mining during the 4th quarter valued at approximately $1,315,000. Great Diamond Partners LLC acquired a new position in shares of Barrick Mining in the fourth quarter worth about $2,393,000. Erste Asset Management GmbH grew its position in shares of Barrick Mining by 146.9% during the 4th quarter. Erste Asset Management GmbH now owns 43,700 shares of the gold and copper producer's stock valued at $1,911,000 after acquiring an additional 26,000 shares during the period. GeoSphere Capital Management LLC purchased a new position in shares of Barrick Mining in the 4th quarter valued at about $1,960,000. Finally, Hillsdale Investment Management Inc. boosted its position in Barrick Mining by 7.2% during the fourth quarter. Hillsdale Investment Management Inc. now owns 1,165,501 shares of the gold and copper producer's stock worth $50,861,000 after purchasing an additional 78,750 shares in the last quarter. 90.82% of the stock is owned by institutional investors.

Barrick Mining Company Profile

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the production of gold and copper. Its activities include the exploration, development, construction and operation of mines, as well as processing ore into refined metal products.

The company operates and holds interests in mining assets across several regions, including North America, South America, Africa, the Middle East and Papua New Guinea. Its portfolio includes gold operations such as Nevada Gold Mines in the United States, Pueblo Viejo in the Dominican Republic, Veladero in Argentina, Kibali in the Democratic Republic of the Congo, and North Mara and Bulyanhulu in Tanzania.

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