Barrick Mining (NYSE:B) Trading Up 1.7% – Should You Buy?

Barrick Mining Corporation (NYSE:B) (TSE:ABX) shares shot up 1.7% on Tuesday . The company traded as high as $52.18 and last traded at $52.16. 14,825,124 shares were traded during mid-day trading, an increase of 1% from the average session volume of 14,615,344 shares. The stock had previously closed at $51.29.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Bank of America upgraded shares of Barrick Mining from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $38.00 to $48.00 in a research report on Monday, November 24th. Cormark upgraded shares of Barrick Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a research note on Monday, December 29th. Citigroup upgraded Barrick Mining from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Finally, Wall Street Zen downgraded Barrick Mining from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $48.73.

Barrick Mining Price Performance

The stock has a market capitalization of $87.39 billion, a price-to-earnings ratio of 25.20, a P/E/G ratio of 0.44 and a beta of 0.41. The company has a fifty day simple moving average of $44.27 and a 200 day simple moving average of $34.22. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.33 and a current ratio of 2.94.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a return on equity of 9.48% and a net margin of 24.53%.The company had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same period last year, the company earned $0.09 earnings per share. The firm’s revenue was up 23.2% compared to the same quarter last year. Equities research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a $0.175 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s payout ratio is currently 33.82%.

Hedge Funds Weigh In On Barrick Mining

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Westside Investment Management Inc. acquired a new stake in Barrick Mining during the 4th quarter worth about $25,000. Financial Consulate Inc. boosted its position in shares of Barrick Mining by 1,042.0% during the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after purchasing an additional 521 shares in the last quarter. Lodestone Wealth Management LLC acquired a new stake in Barrick Mining during the fourth quarter worth approximately $35,000. Nisa Investment Advisors LLC bought a new stake in Barrick Mining in the fourth quarter worth approximately $35,000. Finally, Arlington Trust Co LLC acquired a new position in Barrick Mining in the third quarter valued at approximately $26,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

About Barrick Mining

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.