Barrick Mining Corporation (NYSE:B) Stock Has Average Target Price of $52.59

Key Points

• Analysts maintain a moderately bullish view: Twenty-two brokerages give Barrick Mining an average rating of “Moderate Buy,” with an average 12-month price target of $52.59. Recent target revisions ranged from $49 to $56.50.
• Shares were trading below analyst targets: Barrick opened at $36.99, down 4.3%, compared with a 52-week range of $31.61 to $54.69. The company has a $60.47 billion market capitalization and a low debt-to-equity ratio of 0.13.
• Financial performance and shareholder returns were positive: Quarterly earnings of $0.82 per share exceeded estimates, while revenue rose 43.8% year over year to $5.29 billion. Barrick also paid a quarterly dividend of $0.175 per share, equivalent to a 1.9% annualized yield.

Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX has been given an average recommendation of "Moderate Buy" by the twenty-two brokerages that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $52.59.

A number of equities analysts have commented on the company. Royal Bank Of Canada lifted their target price on Barrick Mining from $49.00 to $53.00 and gave the company an "outperform" rating in a research note on Wednesday, September 16th. Sanford C. Bernstein reduced their price target on shares of Barrick Mining from $61.00 to $56.50 and set an "outperform" rating for the company in a report on Wednesday, September 9th. Wall Street Zen downgraded shares of Barrick Mining from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Canadian Imperial Bank of Commerce cut Barrick Mining from a "sector outperform" rating to a "neutral" rating and cut their price target for the company from $57.00 to $49.00 in a report on Friday, October 16th. Finally, Bank of America reduced their price objective on Barrick Mining from $56.00 to $54.00 and set a "buy" rating for the company in a research report on Tuesday, August 11th.

Barrick Mining Stock Down 4.3%

B stock opened at $36.99 on Friday. The firm has a 50 day simple moving average of $42.18 and a 200-day simple moving average of $42.24. The company has a market capitalization of $60.47 billion, a P/E ratio of 9.53, a PEG ratio of 1.20 and a beta of 0.48. Barrick Mining has a twelve month low of $31.61 and a twelve month high of $54.69. The company has a current ratio of 3.01, a quick ratio of 2.36 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly earnings results on Monday, August 10th. The gold and copper producer reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. The business had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.10 billion. During the same quarter last year, the company posted $0.47 earnings per share. The company's quarterly revenue was up 43.8% compared to the same quarter last year. On average, equities research analysts predict that Barrick Mining will post 3.49 earnings per share for the current fiscal year.

Barrick Mining Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were paid a dividend of $0.1750 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Monday, August 31st. Barrick Mining's dividend payout ratio (DPR) is presently 18.04%.

Institutional Trading of Barrick Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in B. Ascentis Independent Advisors purchased a new position in Barrick Mining during the first quarter valued at approximately $28,000. Continuum Advisory LLC acquired a new position in shares of Barrick Mining in the second quarter worth $32,000. Root Financial Partners LLC purchased a new stake in shares of Barrick Mining during the third quarter worth $38,000. Allied Private Wealth LLC acquired a new position in Barrick Mining in the 2nd quarter worth about $35,000. Finally, Main Street Group LTD purchased a new stake in shares of Barrick Mining during the 1st quarter worth about $46,000. 90.82% of the stock is currently 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 exploration, development and production of gold and copper. Its activities include operating mines, advancing development projects and managing mineral reserves across multiple jurisdictions.

The company’s gold operations include Nevada Gold Mines in the United States, a joint venture in which Barrick is the operator, as well as mines and projects in Canada, the Dominican Republic, Mali, Côte d’Ivoire, Tanzania and the Democratic Republic of the Congo.

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