Barrick Mining (NYSE:B) Shares Down 4.7% – Should You Sell?

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) traded down 4.7% during mid-day trading on Thursday . The stock traded as low as $45.37 and last traded at $45.4220. 20,030,808 shares changed hands during trading, an increase of 17% from the average session volume of 17,116,184 shares. The stock had previously closed at $47.64.

Analyst Ratings Changes

Several research analysts have commented on the company. ATB Cormark Capital Markets raised Barrick Mining to a “moderate buy” rating in a report on Monday, February 9th. Scotiabank upped their price objective on shares of Barrick Mining from $43.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $71.00 target price on shares of Barrick Mining in a research note on Wednesday, February 4th. Bank of America raised shares of Barrick Mining from a “neutral” rating to a “buy” rating and upped their price target for the company from $38.00 to $48.00 in a research report on Monday, November 24th. Finally, Wall Street Zen upgraded Barrick Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.58.

Barrick Mining Stock Performance

The business’s fifty day moving average price is $46.50 and its 200-day moving average price is $36.61. The stock has a market cap of $80.40 billion, a PE ratio of 16.38, a P/E/G ratio of 0.37 and a beta of 0.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.33 and a current ratio of 2.92.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, beating 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 the consensus estimate of $5.15 billion. The company’s revenue for the quarter was up 44.6% on a year-over-year basis. As a group, 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 will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, February 27th. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. This represents a $1.68 annualized dividend and a dividend yield of 3.5%. Barrick Mining’s dividend payout ratio is presently 57.34%.

Institutional Trading of Barrick Mining

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bogart Wealth LLC increased its stake in shares of Barrick Mining by 3.5% in the 4th quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer’s stock worth $281,000 after purchasing an additional 218 shares in the last quarter. Mmbg Investment Advisors CO. increased its position in Barrick Mining by 0.6% in the fourth quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer’s stock worth $1,892,000 after buying an additional 254 shares in the last quarter. S.A. Mason LLC increased its position in Barrick Mining by 1.3% in the fourth quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer’s stock worth $1,007,000 after buying an additional 300 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Barrick Mining by 1.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 31,212 shares of the gold and copper producer’s stock worth $1,359,000 after buying an additional 302 shares during the period. Finally, Legacy Financial Advisors Inc. lifted its position in shares of Barrick Mining by 3.9% during the 4th quarter. Legacy Financial Advisors Inc. now owns 8,569 shares of the gold and copper producer’s stock valued at $373,000 after buying an additional 319 shares in the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

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.