Barrick Mining (NYSE:B) Shares Up 4.3% – Time to Buy?

Barrick Mining Corporation (NYSE:B) (TSE:ABX) shares were up 4.3% during trading on Tuesday . The stock traded as high as $47.75 and last traded at $47.6910. Approximately 18,723,707 shares were traded during mid-day trading, an increase of 38% from the average daily volume of 13,580,379 shares. The stock had previously closed at $45.74.

Analyst Ratings Changes

B has been the topic of several research reports. BNP Paribas Exane raised Barrick Mining from a “neutral” rating to an “outperform” rating and set a $50.00 price target on the stock in a research report on Friday, December 5th. Wall Street Zen lowered shares of Barrick Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Royal Bank Of Canada increased their target price on shares of Barrick Mining from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Cowen reaffirmed a “buy” rating on shares of Barrick Mining in a report on Wednesday, November 26th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Barrick Mining in a research report on Monday, September 22nd. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $47.17.

Barrick Mining Price Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 2.94 and a quick ratio of 2.33. The stock has a market capitalization of $80.30 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 0.30 and a beta of 0.41. The company has a 50-day simple moving average of $39.76 and a two-hundred day simple moving average of $31.25.

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

Barrick Mining Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were given a $0.175 dividend. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, November 28th. This represents a $0.70 annualized dividend and a yield of 1.5%. Barrick Mining’s payout ratio is currently 33.82%.

Institutional Investors Weigh In On Barrick Mining

A number of hedge funds have recently made changes to their positions in the business. Arlington Trust Co LLC bought a new position in Barrick Mining in the 3rd quarter worth approximately $26,000. JPL Wealth Management LLC bought a new stake in Barrick Mining during the 3rd quarter valued at $28,000. Pin Oak Investment Advisors Inc. acquired a new position in Barrick Mining during the 3rd quarter worth $31,000. Provenance Wealth Advisors LLC bought a new position in shares of Barrick Mining in the third quarter worth $32,000. Finally, Investors Research Corp acquired a new position in shares of Barrick Mining during the third quarter valued at $36,000. 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.