Cormark Estimates Barrick Mining FY2027 Earnings

Barrick Mining Corporation (NYSE:B) (TSE:ABX) – Investment analysts at Cormark issued their FY2027 earnings per share (EPS) estimates for Barrick Mining in a research note issued on Tuesday, August 12th. Cormark analyst R. Gray anticipates that the gold and copper producer will post earnings of $2.36 per share for the year. The consensus estimate for Barrick Mining’s current full-year earnings is $1.47 per share.

Several other research firms have also issued reports on B. Wall Street Zen lowered Barrick Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. BMO Capital Markets initiated coverage on Barrick Mining in a report on Wednesday, April 16th. They set a “market perform” rating on the stock. Scotiabank upped their target price on Barrick Mining from $25.00 to $26.00 and gave the stock a “sector perform” rating in a report on Wednesday. CIBC upgraded Barrick Mining from a “neutral” rating to an “outperform” rating in a report on Tuesday. Finally, Cibc World Mkts upgraded Barrick Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $24.77.

Barrick Mining Stock Up 1.5%

B stock opened at $23.85 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.16. The stock has a market capitalization of $40.69 billion, a P/E ratio of 15.00, a P/E/G ratio of 0.36 and a beta of 0.27. The business has a 50-day moving average of $21.37 and a 200-day moving average of $19.55. Barrick Mining has a fifty-two week low of $15.11 and a fifty-two week high of $24.15.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%. The company’s revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 earnings per share.

Institutional Investors Weigh In On Barrick Mining

Several institutional investors have recently made changes to their positions in B. Envestnet Asset Management Inc. increased its holdings in shares of Barrick Mining by 1.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 702,023 shares of the gold and copper producer’s stock worth $10,881,000 after purchasing an additional 11,662 shares during the period. Sterling Capital Management LLC bought a new position in shares of Barrick Mining in the fourth quarter worth $162,000. Rockefeller Capital Management L.P. increased its holdings in shares of Barrick Mining by 3.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 472,060 shares of the gold and copper producer’s stock worth $7,317,000 after purchasing an additional 13,897 shares during the period. Townsquare Capital LLC increased its holdings in shares of Barrick Mining by 0.3% in the fourth quarter. Townsquare Capital LLC now owns 285,355 shares of the gold and copper producer’s stock worth $4,423,000 after purchasing an additional 952 shares during the period. Finally, XTX Topco Ltd bought a new position in Barrick Mining in the fourth quarter valued at $468,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

About Barrick Mining

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.