Barrick Mining (NYSE:B) Trading 2.7% Higher – Here’s What Happened

Barrick Mining Corporation (NYSE:B) (TSE:ABX) traded up 2.7% during trading on Monday . The company traded as high as $49.74 and last traded at $49.0950. 13,643,707 shares changed hands during mid-day trading, an increase of 0% from the average session volume of 13,576,119 shares. The stock had previously closed at $47.81.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on B shares. Scotiabank upgraded shares of Barrick Mining from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $27.50 to $43.00 in a research report on Thursday, October 23rd. BNP Paribas Exane raised shares of Barrick Mining from a “neutral” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Friday, December 5th. BMO Capital Markets reiterated a “market perform” rating on shares of Barrick Mining in a research note on Monday, September 22nd. Cowen reissued a “buy” rating on shares of Barrick Mining in a report on Wednesday, November 26th. Finally, Bank of America raised Barrick Mining from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $38.00 to $48.00 in a report on Monday, November 24th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $47.17.

Barrick Mining Trading Up 2.7%

The stock has a market cap of $82.66 billion, a P/E ratio of 23.72, a P/E/G ratio of 0.40 and a beta of 0.41. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.33 and a current ratio of 2.94. The stock’s fifty day moving average is $41.29 and its 200 day moving average is $32.20.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.20 billion. Barrick Mining had a return on equity of 9.48% and a net margin of 24.53%.The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 earnings per share. As a group, equities research analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were given a $0.175 dividend. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, November 28th. Barrick Mining’s dividend payout ratio is 33.82%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vermillion Wealth Management Inc. bought a new stake in shares of Barrick Mining in the 2nd quarter worth about $25,000. Crowley Wealth Management Inc. purchased a new stake in Barrick Mining in the 2nd quarter worth about $26,000. Concord Wealth Partners purchased a new stake in Barrick Mining in the 2nd quarter worth about $26,000. Arlington Trust Co LLC bought a new stake in Barrick Mining in the third quarter worth about $26,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Barrick Mining during the second quarter valued at approximately $27,000. 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.