Barrick Mining Corporation (NYSE:B) Given Consensus Rating of “Buy” by Brokerages

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) have been assigned a consensus recommendation of “Buy” from the twenty-three research firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $51.3333.

A number of brokerages recently weighed in on B. Zacks Research lowered Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 13th. JPMorgan Chase & Co. initiated coverage on Barrick Mining in a report on Thursday, January 29th. They set an “overweight” rating and a $68.00 price target on the stock. UBS Group reaffirmed a “buy” rating and issued a $59.00 price objective on shares of Barrick Mining in a research note on Friday. Canaccord Genuity Group lifted their target price on shares of Barrick Mining from $39.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Finally, Cormark upgraded shares of Barrick Mining from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 11th.

Barrick Mining Trading Up 1.1%

Shares of Barrick Mining stock opened at $46.30 on Thursday. The firm’s 50 day moving average is $45.50 and its 200 day moving average is $35.23. The firm has a market capitalization of $77.57 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 0.40 and a beta of 0.40. Barrick Mining has a 1 year low of $16.33 and a 1 year high of $54.69. The company has a current ratio of 2.94, a quick ratio of 2.33 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.20 billion. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The company’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the business posted $0.09 earnings per share. Equities research analysts forecast that Barrick Mining will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were given a dividend of $0.175 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.70 annualized dividend and a yield of 1.5%. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s dividend payout ratio is 33.82%.

Institutional Investors Weigh In On Barrick Mining

Several institutional investors and hedge funds have recently made changes to their positions in B. Farther Finance Advisors LLC acquired a new position in shares of Barrick Mining in the second quarter worth approximately $215,000. Fifth Third Bancorp acquired a new position in shares of Barrick Mining in the 2nd quarter worth approximately $132,000. Signaturefd LLC acquired a new stake in shares of Barrick Mining during the second quarter worth $641,000. Sound Income Strategies LLC bought a new position in Barrick Mining during the second quarter worth $79,000. Finally, GC Wealth Management RIA LLC bought a new position in Barrick Mining during the second quarter worth $273,000. Institutional investors and hedge funds 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.