Canaccord Genuity Group Cuts Barrick Mining (NYSE:B) Price Target to $77.00

Barrick Mining (NYSE:B) (TSE:ABX) had its price target lowered by Canaccord Genuity Group to $77.00 in a research note published on Wednesday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the gold and copper producer’s stock.

A number of other research firms have also recently commented on B. BNP Paribas Exane raised shares of Barrick Mining to a “neutral” rating and set a $50.00 price target for the company in a research note on Friday, December 5th. ATB Cormark Capital Markets upgraded shares of Barrick Mining to a “moderate buy” rating in a research report on Monday, February 9th. Scotiabank increased their target price on Barrick Mining from $43.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Jefferies Financial Group restated a “buy” rating and set a $55.00 price target on shares of Barrick Mining in a research report on Sunday, December 7th. Finally, JPMorgan Chase & Co. began coverage on Barrick Mining in a report on Thursday, January 29th. They issued an “overweight” rating and a $68.00 price objective for the company. Two 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $55.25.

Barrick Mining Price Performance

Shares of NYSE B opened at $47.95 on Wednesday. The stock’s 50-day simple moving average is $47.11 and its two-hundred day simple moving average is $37.52. Barrick Mining has a twelve month low of $17.00 and a twelve month high of $54.69. The firm has a market capitalization of $80.33 billion, a P/E ratio of 16.36, a P/E/G ratio of 0.39 and a beta of 0.40. The company has a quick ratio of 2.33, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, topping the consensus estimate of $0.85 by $0.19. The company had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The business’s revenue was up 44.6% compared to the same quarter last year. As a group, equities analysts anticipate that Barrick Mining will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be given a $0.42 dividend. The ex-dividend date 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 yield of 3.5%. Barrick Mining’s dividend payout ratio is presently 23.89%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Compound Planning Inc. raised its holdings in Barrick Mining by 7.8% during the 4th quarter. Compound Planning Inc. now owns 48,984 shares of the gold and copper producer’s stock valued at $2,133,000 after buying an additional 3,541 shares during the last quarter. Corient Private Wealth LLC grew its holdings in Barrick Mining by 64.2% in the 4th quarter. Corient Private Wealth LLC now owns 81,770 shares of the gold and copper producer’s stock worth $3,562,000 after acquiring an additional 31,959 shares during the last quarter. Vident Advisory LLC raised its stake in shares of Barrick Mining by 352.7% during the fourth quarter. Vident Advisory LLC now owns 192,048 shares of the gold and copper producer’s stock valued at $8,364,000 after acquiring an additional 149,625 shares during the last quarter. Wahed Invest LLC raised its stake in shares of Barrick Mining by 6.9% during the fourth quarter. Wahed Invest LLC now owns 32,759 shares of the gold and copper producer’s stock valued at $1,429,000 after acquiring an additional 2,112 shares during the last quarter. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Barrick Mining during the fourth quarter worth about $401,000. Institutional investors own 90.82% of the company’s stock.

Key Stories Impacting Barrick Mining

Here are the key news stories impacting Barrick Mining this week:

• Positive Sentiment: Major investor support — a large institutional investor publicly backed Barrick, which can help sentiment and provide buying support amid geopolitical scrutiny. Major Investor Backs Barrick Gold
• Positive Sentiment: Mali settlement and Loulo extension — Barrick’s resolution of a Mali dispute and an extension at the Loulo-Gounkoto complex removes a key overhang on West African operations and clarifies near?term production prospects. That should support medium-term cash flow visibility. What Barrick Mining’s Mali Dispute Settlement Means
• Neutral Sentiment: Peer comparison — recent write-ups comparing Barrick (B) to Kinross (KGC) highlight both firms’ strong projects and rising cash flows; these analyses provide context but don’t change fundamentals on their own. B vs. KGC: Which Gold Mining Stock Is the Better Pick Now?
• Neutral Sentiment: Post-earnings positioning and volatility — market commentary suggests the stock’s pullback is partly profit-taking after a run-up and sensitivity to choppy precious?metals prices; Barrick’s announced plans (including preparing an IPO of its North American gold assets) add short?term structural uncertainty. Barrick slides as precious-metals volatility weighs
• Negative Sentiment: Newmont default notice — Newmont has filed a notice of default alleging mismanagement at Nevada Gold Mines, giving Barrick 30 days to remedy under their 2019 JV agreement. That raises governance, legal and operational risk for Barrick’s largest asset and is a material near?term overhang. Newmont Sends Notice of Default to Barrick
• Negative Sentiment: Rising unit costs — analyst coverage and articles flag higher unit costs that could erode Barrick’s recent profit momentum despite stronger gold prices; this pressure on margins is weighing on near?term earnings outlooks. Will Barrick Mining’s Higher Costs Dent Its Profit Momentum Ahead?
• Negative Sentiment: Analyst caution — at least one broker has issued a pessimistic forecast for Barrick’s stock, adding downward pressure on sentiment and potentially limiting near?term upside until clarity on costs, the Nevada dispute and the North American IPO plan arrives. Canaccord Genuity Issues Pessimistic Forecast

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.