Barrick Mining (NYSE:B) Trading 2.4% Higher – Should You Buy?

Barrick Mining Corporation (NYSE:B) (TSE:ABX) rose 2.4% during mid-day trading on Thursday . The company traded as high as $39.55 and last traded at $39.3590. Approximately 13,266,871 shares were traded during trading, a decline of 10% from the average daily volume of 14,748,171 shares. The stock had previously closed at $38.45.

Wall Street Analyst Weigh In

B has been the subject of a number of recent analyst reports. UBS Group decreased their price target on Barrick Mining from $55.00 to $50.00 and set a “buy” rating for the company in a report on Friday, March 27th. Scotiabank lifted their price target on Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. 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 for the company. Canaccord Genuity Group decreased their price target on Barrick Mining to $77.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Barrick Mining in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.17.

Barrick Mining Stock Up 2.4%

The business has a 50 day moving average of $43.04 and a 200-day moving average of $42.32. The stock has a market cap of $65.95 billion, a PE ratio of 13.43, a P/E/G ratio of 1.41 and a beta of 0.50. The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.19. The firm had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The company’s quarterly revenue was up 44.6% compared to the same quarter last year. Equities research analysts predict that Barrick Mining Corporation will post 3.55 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were paid a dividend of $0.42 per share. The ex-dividend date was Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a yield of 4.3%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s dividend payout ratio (DPR) is 57.34%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Westside Investment Management Inc. acquired a new position in Barrick Mining in the 4th quarter valued at about $25,000. Financial Consulate Inc. increased its position in Barrick Mining by 1,042.0% in the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after acquiring an additional 521 shares during the period. Intesa Sanpaolo Wealth Management acquired a new position in Barrick Mining in the 4th quarter valued at about $26,000. Ascentis Independent Advisors acquired a new position in Barrick Mining in the 1st quarter valued at about $28,000. Finally, Laurel Wealth Advisors LLC acquired a new position in Barrick Mining in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors 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.