Barrick Mining (NYSE:B) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Barrick Mining (NYSE:B) (TSE:ABX) had its target price lowered by JPMorgan Chase & Co. from $55.00 to $53.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the gold and copper producer’s stock.

A number of other brokerages have also issued reports on B. TD set a $59.00 price target on shares of Barrick Mining and gave the stock a “buy” rating in a research note on Wednesday, September 16th. Bank of America reduced their price objective on shares of Barrick Mining from $56.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Canadian Imperial Bank of Commerce lowered shares of Barrick Mining from a “sector outperform” rating to a “neutral” rating and decreased their price objective for the stock from $57.00 to $49.00 in a report on Friday, October 16th. Citigroup raised their price objective on shares of Barrick Mining from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. Finally, Sanford C. Bernstein dropped their target price on shares of Barrick Mining from $61.00 to $56.50 and set an “outperform” rating for the company in a research report on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.47.

Barrick Mining Price Performance

Shares of NYSE B opened at $37.88 on Tuesday. The company has a quick ratio of 2.36, a current ratio of 2.73 and a debt-to-equity ratio of 0.12. Barrick Mining has a fifty-two week low of $34.03 and a fifty-two week high of $54.69. The business has a 50 day moving average price of $40.95 and a two-hundred day moving average price of $41.78. The firm has a market cap of $61.70 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 2.21 and a beta of 0.52.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its earnings results on Monday, November 9th. The gold and copper producer reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $5.10 billion. Barrick Mining had a return on equity of 16.65% and a net margin of 30.32%. Barrick Mining’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 EPS. Sell-side analysts expect that Barrick Mining will post 3.54 earnings per share for the current fiscal year.

Barrick Mining Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a $0.1750 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, November 30th. Barrick Mining’s dividend payout ratio is 17.86%.

Institutional Trading of Barrick Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Diversify Advisory Services LLC raised its stake in shares of Barrick Mining by 61.5% in the 3rd quarter. Diversify Advisory Services LLC now owns 90,724 shares of the gold and copper producer’s stock worth $3,679,000 after buying an additional 34,547 shares in the last quarter. Groupe la Francaise lifted its holdings in shares of Barrick Mining by 3.3% in the second quarter. Groupe la Francaise now owns 943,327 shares of the gold and copper producer’s stock valued at $34,667,000 after buying an additional 29,816 shares during the period. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in shares of Barrick Mining in the third quarter valued at $2,355,000. NewEdge Advisors LLC boosted its stake in Barrick Mining by 231.3% during the second quarter. NewEdge Advisors LLC now owns 138,414 shares of the gold and copper producer’s stock valued at $5,084,000 after buying an additional 96,636 shares in the last quarter. Finally, Fusion Capital LLC bought a new position in Barrick Mining during the third quarter valued at about $4,908,000. 90.82% of the stock is currently owned by institutional investors.

Recent Barrick Mining Headlines

Investors following B have been watching these headlines:

• Neutral Sentiment: Barrick filed for a proposed IPO of American Barrick, which will hold its North American gold assets. The separation could help surface value, though the outcome and impact on Barrick remain uncertain. Barrick Announces American Barrick and S-1 Filing for Proposed Initial Public Offering
• Negative Sentiment: JPMorgan cut its price target for Barrick, adding pressure to investor sentiment. Barrick Mining Stock Price Target Cut by JPMorgan
• Negative Sentiment: Barrick reportedly furloughed some workers at its Congo mine as an Ebola precaution. The measure raises potential operational concerns, though the report describes it as precautionary. Barrick Furloughs Some Employees at Congo Mine as Ebola Precaution

About Barrick Mining

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the exploration, development and production of gold and copper. Its activities include operating mines, advancing development projects and managing mineral reserves across multiple jurisdictions. The company’s gold operations include Nevada Gold Mines in the United States, a joint venture in which Barrick is the operator, as well as mines and projects in Canada, the Dominican Republic, Mali, Côte d’Ivoire, Tanzania and the Democratic Republic of the Congo.