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Barrick Mining (NYSE:B) Lowered to Buy Rating by Wall Street Zen

Barrick Mining logo with Basic Materials background

Key Points

  • Wall Street Zen has downgraded Barrick Mining from a "strong-buy" rating to a "buy" rating, indicating a shift in investor sentiment towards the stock.
  • Several analysts have set target prices for Barrick Mining, with a consensus rating of "Moderate Buy" and an average price target of $24.41.
  • Barrick Mining's recent earnings report showed a net margin of 17.46% and a quarterly revenue increase of 13.9% compared to the same quarter last year.
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Barrick Mining (NYSE:B - Get Free Report) TSE: ABX was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

B has been the subject of several other research reports. Scotiabank increased their target price on shares of Barrick Mining from $20.00 to $22.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. UBS Group increased their target price on shares of Barrick Mining from $22.00 to $25.00 and gave the company a "buy" rating in a report on Friday, April 11th. CIBC increased their target price on shares of Barrick Mining from $24.00 to $28.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. BMO Capital Markets began coverage on shares of Barrick Mining in a report on Wednesday, April 16th. They issued a "market perform" rating for the company. Finally, Royal Bank Of Canada set a $26.00 target price on shares of Barrick Mining and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Barrick Mining currently has a consensus rating of "Moderate Buy" and an average price target of $24.41.

Get Our Latest Analysis on B

Barrick Mining Stock Down 2.5%

Shares of Barrick Mining stock traded down $0.60 during trading on Friday, reaching $22.84. 17,358,808 shares of the company traded hands, compared to its average volume of 19,756,881. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 2.16. Barrick Mining has a 1-year low of $15.11 and a 1-year high of $23.53. The company has a 50 day moving average price of $21.17 and a 200-day moving average price of $19.44. The firm has a market capitalization of $38.96 billion, a PE ratio of 17.17, a P/E/G ratio of 0.36 and a beta of 0.27.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.47. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter in the previous year, the company earned $0.32 EPS. Barrick Mining's quarterly revenue was up 16.4% compared to the same quarter last year. As a group, equities research analysts expect that Barrick Mining will post 1.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in B. Vanguard Group Inc. bought a new stake in Barrick Mining in the second quarter valued at $1,459,633,000. First Eagle Investment Management LLC bought a new stake in shares of Barrick Mining during the 2nd quarter valued at $822,056,000. Capital International Investors boosted its holdings in shares of Barrick Mining by 136.1% during the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock valued at $516,055,000 after buying an additional 19,189,830 shares in the last quarter. TD Asset Management Inc bought a new stake in shares of Barrick Mining during the 2nd quarter valued at $386,328,000. Finally, Ninety One UK Ltd bought a new stake in shares of Barrick Mining during the 2nd quarter valued at $326,862,000. Institutional investors own 90.82% of the company's stock.

Barrick Mining Company Profile

(Get Free Report)

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.   In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.

See Also

Analyst Recommendations for Barrick Mining (NYSE:B)

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