Barrick Mining (NYSE:B) Given New $50.00 Price Target at UBS Group

Barrick Mining (NYSE:B) (TSE:ABX) had its price objective lowered by equities researchers at UBS Group from $54.00 to $50.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the gold and copper producer’s stock. UBS Group’s price objective indicates a potential upside of 36.19% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Barclays assumed coverage on Barrick Mining in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price objective for the company. 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 cut Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Finally, ATB Cormark Capital Markets lowered shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. One 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.15.

Barrick Mining Stock Performance

Shares of NYSE:B traded down $0.22 during midday trading on Tuesday, reaching $36.71. 6,459,070 shares of the company’s stock traded hands, compared to its average volume of 14,166,671. Barrick Mining has a one year low of $20.52 and a one year high of $54.69. The stock has a 50 day moving average of $40.82 and a 200 day moving average of $43.76. The company has a market cap of $61.07 billion, a price-to-earnings ratio of 10.13, a P/E/G ratio of 1.06 and a beta of 0.43. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.18. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The business’s revenue for the quarter was up 66.7% on a year-over-year basis. As a group, equities research analysts anticipate that Barrick Mining will post 3.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of B. Financial Consulate Inc. increased its holdings in shares of Barrick Mining by 1,042.0% in the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after buying an additional 521 shares during the last quarter. Westside Investment Management Inc. bought a new stake in shares of Barrick Mining in the 4th quarter valued at approximately $25,000. Intesa Sanpaolo Wealth Management bought a new stake in shares of Barrick Mining in the 4th quarter valued at approximately $26,000. Ascentis Independent Advisors purchased a new position in shares of Barrick Mining in the 1st quarter worth approximately $28,000. Finally, JPL Wealth Management LLC bought a new position in shares of Barrick Mining during the 3rd quarter valued at approximately $28,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

About Barrick Mining

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.