Zacks Research Downgrades Barrick Mining (NYSE:B) to Hold

Barrick Mining (NYSE:B) (TSE:ABX) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

B has been the subject of a number of other reports. TD Securities increased their price objective on Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Citigroup upgraded Barrick Mining from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Royal Bank Of Canada increased their price target on Barrick Mining from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. CIBC lifted their price objective on Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Finally, 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 report on Friday, December 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Barrick Mining currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.17.

Barrick Mining Trading Down 0.2%

NYSE B traded down $0.11 during trading hours on Tuesday, reaching $49.84. The company’s stock had a trading volume of 1,555,190 shares, compared to its average volume of 12,201,784. The firm has a fifty day simple moving average of $42.00 and a 200-day simple moving average of $32.53. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.94 and a quick ratio of 2.33. Barrick Mining has a 52 week low of $15.47 and a 52 week high of $50.51. The stock has a market cap of $83.92 billion, a P/E ratio of 23.95, a P/E/G ratio of 0.42 and a beta of 0.41.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.20 billion. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 EPS. Equities analysts forecast that Barrick Mining will post 1.47 earnings per share for the current fiscal year.

Institutional Trading of Barrick Mining

Large investors have recently modified their holdings of the stock. ORG Partners LLC lifted its stake in shares of Barrick Mining by 28.0% in the fourth quarter. ORG Partners LLC now owns 2,102 shares of the gold and copper producer’s stock valued at $92,000 after buying an additional 460 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. bought a new stake in shares of Barrick Mining during the fourth quarter worth about $2,441,000. LVW Advisors LLC acquired a new stake in shares of Barrick Mining in the 4th quarter worth about $220,000. Exchange Traded Concepts LLC lifted its position in Barrick Mining by 24.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 689,661 shares of the gold and copper producer’s stock valued at $30,035,000 after acquiring an additional 136,861 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its stake in Barrick Mining by 11.7% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 8,602 shares of the gold and copper producer’s stock valued at $375,000 after purchasing an additional 898 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

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.