Traders Buy Large Volume of Call Options on Barrick Mining (NYSE:B)

Barrick Mining Corporation (NYSE:B) (TSE:ABX) was the recipient of unusually large options trading on Thursday. Stock traders bought 27,669 call options on the stock. This represents an increase of approximately 31% compared to the average volume of 21,054 call options.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in B. Financial Consulate Inc. increased its holdings in shares of Barrick Mining by 1,042.0% during the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after acquiring an additional 521 shares in the last quarter. Westside Investment Management Inc. bought a new stake in Barrick Mining during the 4th quarter valued at about $25,000. Intesa Sanpaolo Wealth Management bought a new stake in Barrick Mining during the 4th quarter valued at about $26,000. Ascentis Independent Advisors purchased a new position in Barrick Mining in the first quarter worth about $28,000. Finally, JPL Wealth Management LLC bought a new position in shares of Barrick Mining in the third quarter worth approximately $28,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Weiss Ratings cut Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. UBS Group lowered their price objective on Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Bank of America dropped their price objective on Barrick Mining from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. JPMorgan Chase & Co. cut their target price on shares of Barrick Mining from $58.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Finally, Scotiabank decreased their target price on shares of Barrick Mining from $63.00 to $57.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.46.

Barrick Mining Stock Up 0.7%

Shares of B stock traded up $0.29 during mid-day trading on Thursday, reaching $41.34. 6,475,546 shares of the company’s stock traded hands, compared to its average volume of 13,114,879. Barrick Mining has a 12 month low of $22.13 and a 12 month high of $54.69. The company has a market cap of $68.04 billion, a P/E ratio of 11.42, a P/E/G ratio of 0.81 and a beta of 0.47. The company has a quick ratio of 2.44, a current ratio of 3.06 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $38.35 and its 200-day moving average price is $42.12.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.18. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. Barrick Mining’s revenue was up 66.7% on a year-over-year basis. On average, equities analysts expect that Barrick Mining will post 3.57 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, May 29th. Barrick Mining’s payout ratio is currently 19.34%.

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.