Barrick Mining (NYSE:B) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Barrick Mining (NYSE:B) (TSE:ABX) from a buy rating to a hold rating in a report published on Saturday morning.

Several other equities research analysts also recently weighed in on B. Bank of America decreased their price target on shares of Barrick Mining from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. JPMorgan Chase & Co. raised their target price on Barrick Mining from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday. Scotiabank decreased their target price on Barrick Mining from $57.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, August 12th. TD decreased their target price on Barrick Mining from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Finally, UBS Group dropped their price target on Barrick Mining from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Barrick Mining has an average rating of “Moderate Buy” and a consensus price target of $52.57.

Barrick Mining Price Performance

Shares of B opened at $42.57 on Friday. The firm has a market cap of $70.07 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 0.81 and a beta of 0.47. Barrick Mining has a 52-week low of $23.93 and a 52-week high of $54.69. The business’s 50 day moving average price is $38.33 and its two-hundred day moving average price is $41.65. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.36 and a current ratio of 3.01.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. The company had revenue of $4.19 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the previous year, the business posted $0.47 EPS. Barrick Mining’s revenue for the quarter was up 43.8% compared to the same quarter last year. On average, equities analysts anticipate that Barrick Mining will post 3.51 EPS for the current year.

Barrick Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, August 31st. Barrick Mining’s payout ratio is currently 18.04%.

Institutional Trading of Barrick Mining

Several institutional investors have recently made changes to their positions in the company. CW Advisors LLC purchased a new position in Barrick Mining during the second quarter worth about $283,000. EverSource Wealth Advisors LLC bought a new stake in Barrick Mining in the 2nd quarter worth about $53,000. First Trust Advisors LP purchased a new stake in Barrick Mining in the 2nd quarter valued at about $857,000. Baird Financial Group Inc. purchased a new stake in Barrick Mining in the 2nd quarter valued at about $2,569,000. Finally, Cresset Asset Management LLC bought a new position in shares of Barrick Mining during the 2nd quarter worth approximately $543,000. Institutional investors own 90.82% of the company’s stock.

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.