Brokerages Set Barrick Mining Corporation (NYSE:B) PT at $53.46

Barrick Mining Corporation (NYSE:B) (TSE:ABX) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-two research firms that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $53.1538.

A number of equities research analysts have recently issued reports on the company. ATB Cormark Capital Markets cut Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Weiss Ratings cut shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. UBS Group lowered their target price on shares of Barrick Mining from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday. Canadian Imperial Bank of Commerce dropped their price target on shares of Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 21st. Finally, Barclays began coverage on shares of Barrick Mining in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price target for the company.

Barrick Mining Trading Up 4.8%

Barrick Mining stock opened at $38.22 on Friday. The company has a market cap of $63.57 billion, a price-to-earnings ratio of 10.56, a P/E/G ratio of 1.04 and a beta of 0.48. The firm has a 50-day moving average of $40.52 and a 200-day moving average of $43.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44. Barrick Mining has a one year low of $20.52 and a one year high of $54.69.

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

Barrick Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, May 29th. Barrick Mining’s payout ratio is 19.34%.

Hedge Funds Weigh In On Barrick Mining

Institutional investors and hedge funds have recently modified their holdings of the stock. Capital International Investors grew its position in shares of Barrick Mining by 35.9% in the third quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock valued at $3,340,709,000 after purchasing an additional 26,921,219 shares during the last quarter. FIL Ltd grew its holdings in Barrick Mining by 85.3% in the 4th quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock valued at $1,311,169,000 after buying an additional 13,853,587 shares in the last quarter. Van ECK Associates Corp increased its position in Barrick Mining by 22.8% during the 4th quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock worth $2,413,699,000 after buying an additional 10,287,544 shares during the period. Ameriprise Financial Inc. bought a new position in Barrick Mining during the 2nd quarter worth $211,263,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Barrick Mining during the second quarter worth $172,230,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

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.