Barrick Mining (NYSE:B) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Barrick Mining (NYSE:B) (TSE:ABX) had its price target increased by analysts at Canaccord Genuity Group from $39.00 to $57.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the gold and copper producer’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 74.18% from the stock’s current price.

Several other brokerages have also issued reports on B. Cibc World Mkts upgraded Barrick Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Zacks Research lowered Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Royal Bank Of Canada boosted their price target on Barrick Mining from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. UBS Group boosted their price target on Barrick Mining from $26.00 to $35.00 and gave the company a “buy” rating in a report on Friday, September 19th. Finally, National Bankshares upgraded Barrick Mining to an “outperform” rating in a report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.10.

Barrick Mining Stock Down 1.0%

Shares of NYSE:B opened at $32.73 on Thursday. Barrick Mining has a 1 year low of $15.11 and a 1 year high of $36.10. The business has a 50 day simple moving average of $28.58 and a two-hundred day simple moving average of $22.93. The firm has a market capitalization of $55.72 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 0.54 and a beta of 0.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same quarter in the previous year, the business earned $0.32 earnings per share. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, equities analysts predict that Barrick Mining will post 1.47 EPS for the current year.

Hedge Funds Weigh In On Barrick Mining

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. bought a new position in Barrick Mining in the second quarter worth approximately $1,459,633,000. Arrowstreet Capital Limited Partnership bought a new position in Barrick Mining in the second quarter worth approximately $1,091,122,000. First Eagle Investment Management LLC acquired a new position in shares of Barrick Mining during the second quarter worth $822,056,000. TD Asset Management Inc acquired a new position in shares of Barrick Mining during the second quarter worth $386,328,000. Finally, Ninety One UK Ltd acquired a new position in shares of Barrick Mining during the second quarter worth $326,862,000. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Company Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.