Barrick Mining (NYSE:B) Shares Up 2.4% – Should You Buy?

Shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) traded up 2.4% on Tuesday . The company traded as high as $49.51 and last traded at $47.5460. 23,788,568 shares were traded during trading, an increase of 41% from the average session volume of 16,827,770 shares. The stock had previously closed at $46.43.

Analysts Set New Price Targets

A number of analysts have commented on the company. BNP Paribas Exane upgraded Barrick Mining to a “neutral” rating and set a $50.00 price objective for the company in a research report on Friday, December 5th. Cormark raised Barrick Mining from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a research note on Monday, December 29th. Wall Street Zen cut shares of Barrick Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, DZ Bank upgraded shares of Barrick Mining to a “strong-buy” rating in a research report on Monday, January 19th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $51.33.

Barrick Mining Price Performance

The company’s 50 day moving average price is $45.50 and its 200 day moving average price is $35.23. 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 company has a market cap of $79.66 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 0.40 and a beta of 0.40.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.20 billion. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the firm posted $0.09 EPS. On average, 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 company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, November 28th. Barrick Mining’s dividend payout ratio is presently 33.82%.

Institutional Investors Weigh In On Barrick Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Westside Investment Management Inc. acquired a new position in Barrick Mining in the fourth quarter worth $25,000. Financial Consulate Inc. raised its holdings in shares of Barrick Mining by 1,042.0% in the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after buying an additional 521 shares during the last quarter. Laurel Wealth Advisors LLC bought a new position in shares of Barrick Mining in the fourth quarter valued at about $30,000. Lodestone Wealth Management LLC acquired a new position in Barrick Mining during the 4th quarter worth about $35,000. Finally, Nisa Investment Advisors LLC bought a new stake in Barrick Mining during the 4th quarter worth about $35,000. 90.82% of the stock is owned by institutional investors and hedge funds.

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.