Barrick Mining Corporation (NYSE:B) Receives $52.63 Average Target Price from Brokerages

Barrick Mining Corporation (NYSE:B) (TSE:ABX) has received an average rating of “Moderate Buy” from the twenty-three brokerages that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $52.6333.

A number of equities research analysts have issued reports on B shares. Canadian Imperial Bank of Commerce set a $57.00 price target on shares of Barrick Mining in a report on Wednesday, August 12th. Citigroup lifted their price objective on Barrick Mining from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, September 3rd. Sanford C. Bernstein cut their price objective on Barrick Mining from $61.00 to $56.50 and set an “outperform” rating for the company in a research report on Wednesday. Barclays increased their target price on Barrick Mining from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Finally, TD lowered their target price on Barrick Mining from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th.

Barrick Mining Price Performance

Shares of Barrick Mining stock opened at $43.62 on Friday. The firm has a fifty day simple moving average of $40.81 and a 200-day simple moving average of $41.34. The company has a current ratio of 3.01, a quick ratio of 2.36 and a debt-to-equity ratio of 0.13. Barrick Mining has a 1-year low of $28.38 and a 1-year high of $54.69. The stock has a market capitalization of $71.80 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.28 and a beta of 0.51.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The business had revenue of $4.19 billion for the quarter, compared to analyst estimates of $5.10 billion. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. Barrick Mining’s revenue was up 43.8% compared to the same quarter last year. During the same period last year, the business posted $0.47 EPS. On average, sell-side analysts expect that Barrick Mining will post 3.48 earnings per share for the current year.

Barrick Mining Announces Dividend

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

Institutional Investors Weigh In On Barrick Mining

Hedge funds and other institutional investors have recently modified their holdings of the stock. Williamson Legacy Group LLC bought a new position in Barrick Mining during the fourth quarter valued at about $1,315,000. Great Diamond Partners LLC acquired a new position in Barrick Mining in the 4th quarter valued at approximately $2,393,000. Erste Asset Management GmbH lifted its position in shares of Barrick Mining by 146.9% in the 4th quarter. Erste Asset Management GmbH now owns 43,700 shares of the gold and copper producer’s stock worth $1,911,000 after acquiring an additional 26,000 shares during the period. GeoSphere Capital Management LLC acquired a new stake in shares of Barrick Mining during the 4th quarter worth approximately $1,960,000. Finally, Hillsdale Investment Management Inc. grew its holdings in shares of Barrick Mining by 7.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 1,165,501 shares of the gold and copper producer’s stock worth $50,861,000 after purchasing an additional 78,750 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

About Barrick Mining

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the production of gold and copper. Its activities include the exploration, development, construction and operation of mines, as well as processing ore into refined metal products.

The company operates and holds interests in mining assets across several regions, including North America, South America, Africa, the Middle East and Papua New Guinea. Its portfolio includes gold operations such as Nevada Gold Mines in the United States, Pueblo Viejo in the Dominican Republic, Veladero in Argentina, Kibali in the Democratic Republic of the Congo, and North Mara and Bulyanhulu in Tanzania.