Barclays Upgrades Barrick Mining (NYSE:B) to Hold

Barrick Mining (NYSE:B) (TSE:ABX) was upgraded by Barclays to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Scotiabank raised their target price on Barrick Mining from $43.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Canadian Imperial Bank of Commerce dropped their target price on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a report on Tuesday, April 21st. ATB Cormark Capital Markets downgraded Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. JPMorgan Chase & Co. initiated coverage on Barrick Mining in a report on Thursday, January 29th. They set an “overweight” rating and a $68.00 target price on the stock. Finally, UBS Group raised their target price on Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Barrick Mining has a consensus rating of “Moderate Buy” and a consensus target price of $53.46.

Barrick Mining Stock Performance

Barrick Mining stock opened at $40.64 on Thursday. The stock’s 50-day moving average is $41.26 and its 200-day moving average is $43.27. The company has a market cap of $68.10 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 1.12 and a beta of 0.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44. Barrick Mining has a 12 month low of $18.58 and a 12 month high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.18. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.Barrick Mining’s revenue for the quarter was up 66.7% on a year-over-year basis. Equities analysts anticipate that Barrick Mining will post 3.7 earnings per share for the current year.

Institutional Investors Weigh In On Barrick Mining

Hedge funds have recently bought and sold shares of the business. Westside Investment Management Inc. acquired a new stake in Barrick Mining during the 4th quarter valued at approximately $25,000. Financial Consulate Inc. grew its stake in 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. Intesa Sanpaolo Wealth Management acquired a new stake in Barrick Mining during the 4th quarter valued at approximately $26,000. Ascentis Independent Advisors acquired a new stake in Barrick Mining during the 1st quarter valued at approximately $28,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in Barrick Mining during the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds 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.