Barrick Mining (NYSE:B) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Barrick Mining (NYSE:B) (TSE:ABX) from a buy rating to a strong-buy rating in a research report released on Saturday morning.

Other equities analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Canaccord Genuity Group boosted their price target on shares of Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a report on Thursday. Sanford C. Bernstein reissued an “outperform” rating on shares of Barrick Mining in a report on Wednesday, September 24th. National Bankshares raised shares of Barrick Mining to an “outperform” rating in a report on Monday, September 22nd. Finally, Bank of America boosted their price target on shares of Barrick Mining from $29.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Barrick Mining currently has an average rating of “Moderate Buy” and a consensus target price of $38.10.

Barrick Mining Stock Down 1.0%

B stock opened at $32.73 on Friday. Barrick Mining has a twelve month low of $15.11 and a twelve month high of $36.10. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $55.72 billion, a P/E ratio of 20.58, a PEG ratio of 0.54 and a beta of 0.30. The firm has a 50 day simple moving average of $28.58 and a 200-day simple moving average of $22.95.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.60 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 earnings per share. On average, equities research analysts predict that Barrick Mining will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 annualized dividend and a yield of 1.8%. Barrick Mining’s dividend payout ratio is presently 37.74%.

Institutional Investors Weigh In On Barrick Mining

Several institutional investors have recently bought and sold shares of B. Vermillion Wealth Management Inc. acquired a new stake in Barrick Mining in the second quarter worth about $25,000. Crowley Wealth Management Inc. acquired a new stake in Barrick Mining in the second quarter worth about $26,000. Concord Wealth Partners acquired a new stake in Barrick Mining in the second quarter worth about $26,000. Ameriflex Group Inc. acquired a new stake in Barrick Mining in the second quarter worth about $27,000. Finally, Trifecta Capital Advisors LLC acquired a new stake in Barrick Mining in the second quarter worth about $27,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

About Barrick Mining

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.