Barrick Mining Corporation (B) to Issue Quarterly Dividend of $0.18 on June 15th

Barrick Mining Corporation (NYSE:B) (TSE:ABX) announced a quarterly dividend on Friday, May 8th. Shareholders of record on Friday, May 29th will be paid a dividend of 0.175 per share by the gold and copper producer on Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, May 29th.

Barrick Mining has decreased its dividend payment by an average of 0.0%annually over the last three years. Barrick Mining has a payout ratio of 31.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Barrick Mining to earn $4.30 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 16.3%.

Barrick Mining Trading Up 3.3%

B opened at $42.03 on Wednesday. The firm has a market cap of $70.42 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.10 and a beta of 0.41. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13. Barrick Mining has a 12 month low of $18.58 and a 12 month high of $54.69. The stock has a fifty day moving average price of $41.18 and a 200-day moving average price of $43.47.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping the consensus estimate of $0.80 by $0.18. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.Barrick Mining’s revenue was up 66.7% on a year-over-year basis. As a group, equities research analysts anticipate that Barrick Mining will post 3.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on B shares. Canadian Imperial Bank of Commerce reduced their price target on Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research report on Tuesday, April 21st. Weiss Ratings lowered Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Canaccord Genuity Group reduced their price target on Barrick Mining to $77.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. JPMorgan Chase & Co. started coverage on Barrick Mining in a research report on Thursday, January 29th. They issued an “overweight” rating and a $68.00 price target for the company. Finally, Wall Street Zen raised Barrick Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $53.46.

Barrick Mining Company Profile

Barrick Gold Corporation, commonly known as Barrick, is a Toronto?headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large?scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.

The company’s activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.