Barrick Mining (NYSE:B) Trading Down 1.3% – Here’s Why

Barrick Mining Corporation (NYSE:B) (TSE:ABX) shares fell 1.3% during trading on Thursday . The company traded as low as $39.40 and last traded at $40.1940. 11,505,138 shares changed hands during trading, a decline of 23% from the average session volume of 14,875,775 shares. The stock had previously closed at $40.73.

Wall Street Analysts Forecast Growth

A number of research firms have commented on B. DZ Bank upgraded shares of Barrick Mining to a “strong-buy” rating in a report on Monday, January 19th. UBS Group cut their price objective on shares of Barrick Mining from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Barrick Mining in a research report on Friday, March 27th. ATB Cormark Capital Markets cut shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Scotiabank increased their price objective on shares of Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.17.

Barrick Mining Stock Down 1.3%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.33 and a current ratio of 2.92. The company has a market cap of $67.35 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 1.51 and a beta of 0.50. The stock’s fifty day moving average is $43.78 and its two-hundred day moving average is $42.09.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.19. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.15 billion. The company’s quarterly revenue was up 44.6% compared to the same quarter last year. Sell-side analysts predict that Barrick Mining Corporation will post 3.61 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were paid a $0.42 dividend. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, February 27th. This represents a $1.68 annualized dividend and a yield of 4.2%. Barrick Mining’s dividend payout ratio (DPR) is 57.34%.

Institutional Investors Weigh In On Barrick Mining

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Westside Investment Management Inc. purchased a new stake in Barrick Mining in the 4th quarter valued at about $25,000. Financial Consulate Inc. increased its stake 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 buying an additional 521 shares during the last quarter. Intesa Sanpaolo Wealth Management purchased a new stake in Barrick Mining in the 4th quarter valued at about $26,000. Laurel Wealth Advisors LLC purchased a new stake in Barrick Mining in the 4th quarter valued at about $30,000. Finally, Motiv8 Investments LLC purchased a new stake in Barrick Mining in the 4th quarter valued at about $31,000. 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.