Barrick Mining (NYSE:B) Reaches New 52-Week High – What’s Next?

by · The Cerbat Gem

Barrick Mining Corporation (NYSE:B – Get Free Report) (TSE:ABX) shares reached a new 52-week high during trading on Monday . The stock traded as high as $42.86 and last traded at $42.0770, with a volume of 644947 shares changing hands. The stock had previously closed at $41.34.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on B shares. National Bank Financial upgraded Barrick Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 22nd. Cormark raised Barrick Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 11th. BMO Capital Markets restated a “market perform” rating on shares of Barrick Mining in a report on Monday, September 22nd. Royal Bank Of Canada upped their price objective on Barrick Mining from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Finally, TD Securities increased their target price on Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Barrick Mining has an average rating of “Buy” and a consensus target price of $45.67.

View Our Latest Research Report on Barrick Mining

Barrick Mining Stock Performance

The firm has a market capitalization of $71.84 billion, a PE ratio of 26.80, a P/E/G ratio of 0.40 and a beta of 0.28. The business has a 50-day simple moving average of $34.66 and a 200-day simple moving average of $26.93. 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 – Get Free Report) (TSE:ABX) last released its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The firm had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter in the previous year, the company posted $0.09 EPS. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities research analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.6%. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, November 28th. Barrick Mining’s dividend payout ratio (DPR) is presently 33.82%.

Hedge Funds Weigh In On Barrick Mining

A number of large investors have recently made changes to their positions in the company. Arlington Trust Co LLC purchased a new position in Barrick Mining during the 3rd quarter valued at $26,000. JPL Wealth Management LLC bought a new stake in shares of Barrick Mining during the third quarter worth $28,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Barrick Mining during the third quarter valued at $31,000. Provenance Wealth Advisors LLC purchased a new stake in shares of Barrick Mining during the third quarter valued at $32,000. Finally, Investors Research Corp bought a new position in shares of Barrick Mining in the third quarter worth about $36,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Company Profile

(Get Free Report)

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.

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