Barrick Mining (NYSE:B) Shares Down 2.6% - What's Next?

Key Points

• Barrick Mining shares fell 2.6% to about $38.67, with trading volume 31% below the average. The stock remains below its 50-day and 200-day moving averages, both near $42.40.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $52.59, despite several recent target-price cuts and downgrades to “Hold.”
• Barrick reported quarterly EPS of $0.82 and revenue of $5.29 billion, beating estimates, while revenue rose 43.8% year over year. The company also pays a $0.175 quarterly dividend, equal to a 1.8% yield.

Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX shares fell 2.6% during trading on Thursday. The company traded as low as $38.46 and last traded at $38.6730. 8,289,817 shares changed hands during trading, a decline of 31% from the average daily volume of 12,022,930 shares. The stock had previously closed at $39.69.

Wall Street Analysts Forecast Growth

B has been the subject of a number of analyst reports. TD set a $59.00 price objective on shares of Barrick Mining and gave the company a "buy" rating in a research note on Wednesday, September 16th. Bank of America cut their target price on Barrick Mining from $56.00 to $54.00 and set a "buy" rating on the stock in a report on Tuesday, August 11th. Scotiabank lowered their target price on shares of Barrick Mining from $57.00 to $55.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 12th. Wall Street Zen downgraded shares of Barrick Mining from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Finally, Freedom Broker cut shares of Barrick Mining from a "buy" rating to a "hold" rating and cut their price target for the stock from $54.00 to $46.00 in a research note on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Barrick Mining presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.59.

Barrick Mining Stock Performance

The firm has a market cap of $63.22 billion, a P/E ratio of 9.97, a PEG ratio of 1.18 and a beta of 0.48. 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 stock's 50-day moving average is $42.50 and its 200 day moving average is $42.35.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.01. The business had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.10 billion. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%. Barrick Mining's revenue for the quarter was up 43.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 EPS. On average, research analysts predict that Barrick Mining Corporation will post 3.50 earnings per share for the current year.

Barrick Mining Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were paid a $0.1750 dividend. This represents a $0.70 annualized dividend and a yield of 1.8%. The ex-dividend date was Monday, August 31st. Barrick Mining's dividend payout ratio (DPR) is 18.04%.

Institutional Trading of Barrick Mining

Institutional investors have recently added to or reduced their stakes in the company. Brookstone Capital Management raised its position in shares of Barrick Mining by 4.9% in the 3rd quarter. Brookstone Capital Management now owns 6,658 shares of the gold and copper producer's stock worth $271,000 after acquiring an additional 313 shares in the last quarter. Eagle Bay Advisors LLC increased its position in shares of Barrick Mining by 7.5% during the 1st quarter. Eagle Bay Advisors LLC now owns 5,052 shares of the gold and copper producer's stock valued at $206,000 after purchasing an additional 352 shares during the last quarter. CoreCap Advisors LLC lifted its position in shares of Barrick Mining by 13.6% during the 3rd quarter. CoreCap Advisors LLC now owns 3,019 shares of the gold and copper producer's stock valued at $123,000 after buying an additional 361 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its stake in Barrick Mining by 1.0% during the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 41,914 shares of the gold and copper producer's stock valued at $1,710,000 after purchasing an additional 417 shares during the period. Finally, Range Financial Group LLC increased its holdings in Barrick Mining by 4.1% in the 1st quarter. Range Financial Group LLC now owns 10,818 shares of the gold and copper producer's stock valued at $441,000 after acquiring an additional 428 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors.

About Barrick Mining

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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