Barrick Mining (NYSE:B) Stock Price Down 4.3% – What’s Next?

Barrick Mining Corporation (NYSE:B) (TSE:ABX) shares traded down 4.3% on Friday. The stock traded as low as $36.27 and last traded at $36.99. Approximately 9,431,396 shares changed hands during trading, a decline of 21% from the average session volume of 12,006,109 shares. The stock had previously closed at $38.67.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on B. JPMorgan Chase & Co. boosted their target price on shares of Barrick Mining from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 21st. Barclays raised their price target on shares of Barrick Mining from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Citigroup lifted their price target 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. TD set a $59.00 price objective on Barrick Mining and gave the company a “buy” rating in a research note on Wednesday, September 16th. Finally, RBC Dominion Securities set a $53.00 price objective on Barrick Mining and gave the company an “outperform” rating in a report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.59.

Barrick Mining Trading Down 4.3%

The firm’s 50 day moving average is $42.18 and its 200 day moving average is $42.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.36. The company has a market cap of $60.47 billion, a PE ratio of 9.53, a PEG ratio of 1.15 and a beta of 0.48.

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, topping 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 business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the prior year, the company posted $0.47 EPS. The business’s revenue for the quarter was up 43.8% compared to the same quarter last year. On average, equities analysts anticipate that Barrick Mining Corporation will post 3.49 earnings per share for the current year.

Barrick Mining Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were issued a $0.1750 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.70 annualized dividend and a dividend yield of 1.9%. Barrick Mining’s dividend payout ratio is presently 18.04%.

Institutional Investors Weigh In On Barrick Mining

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Brookstone Capital Management grew its position in Barrick Mining by 4.9% during the third quarter. Brookstone Capital Management now owns 6,658 shares of the gold and copper producer’s stock worth $271,000 after buying an additional 313 shares in the last quarter. CoreCap Advisors LLC boosted its position in shares of Barrick Mining by 13.6% during the 3rd quarter. CoreCap Advisors LLC now owns 3,019 shares of the gold and copper producer’s stock valued at $123,000 after acquiring an additional 361 shares during the last quarter. Bradley Foster & Sargent Inc. CT boosted its position in shares of Barrick Mining by 1.0% during the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 41,914 shares of the gold and copper producer’s stock valued at $1,710,000 after acquiring an additional 417 shares during the last quarter. Range Financial Group LLC grew its holdings in shares of Barrick Mining by 4.1% during the first quarter. Range Financial Group LLC now owns 10,818 shares of the gold and copper producer’s stock worth $441,000 after purchasing an additional 428 shares in the last quarter. Finally, Triumph Capital Management grew its holdings in shares of Barrick Mining by 15.4% during the third quarter. Triumph Capital Management now owns 3,324 shares of the gold and copper producer’s stock worth $135,000 after purchasing an additional 443 shares in the last quarter. Hedge funds and other institutional investors 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 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.