Analysts Issue Forecasts for Barrick Mining FY2025 Earnings

Key Points

• Raymond James Financial has lowered its fiscal year 2025 earnings per share (EPS) estimate for Barrick Mining from $2.01 to $1.92, while the consensus estimate for the current full-year earnings stands at $1.47.
• Despite the EPS cut, Barrick Mining's quarterly earnings of $0.47 matched analysts' expectations, with the company reporting $3.72 billion in revenue, surpassing estimates of $3.60 billion.
• Barrick Mining has an average analyst rating of "Moderate Buy" and a consensus target price of $24.77, with 90.82% of its stock owned by institutional investors and hedge funds.

Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX - Research analysts at Raymond James Financial reduced their FY2025 earnings per share estimates for Barrick Mining in a report issued on Monday, August 11th. Raymond James Financial analyst B. Macarthur now expects that the gold and copper producer will earn $1.92 per share for the year, down from their prior forecast of $2.01. The consensus estimate for Barrick Mining's current full-year earnings is $1.47 per share.

Several other analysts also recently weighed in on the stock. Royal Bank Of Canada set a $26.00 target price on shares of Barrick Mining and gave the company an "outperform" rating in a report on Wednesday, July 2nd. CIBC upgraded Barrick Mining from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 12th. Scotiabank lifted their price target on Barrick Mining from $25.00 to $26.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 13th. Cibc World Mkts raised Barrick Mining from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Finally, Wall Street Zen downgraded Barrick Mining from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $24.77.

Barrick Mining Stock Performance

Shares of NYSE:B traded down $0.2750 during trading on Thursday, reaching $23.9850. The company had a trading volume of 9,551,313 shares, compared to its average volume of 19,478,268. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53. The firm has a market capitalization of $40.92 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 0.37 and a beta of 0.27. The stock's fifty day moving average price is $21.60 and its 200 day moving average price is $19.76. Barrick Mining has a fifty-two week low of $15.11 and a fifty-two week high of $24.48.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, hitting analysts' consensus estimates of $0.47. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The firm had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.60 billion. During the same quarter in the prior year, the business earned $0.32 EPS. Barrick Mining's quarterly revenue was up 16.4% compared to the same quarter last year.

Hedge Funds Weigh In On Barrick Mining

Large investors have recently bought and sold shares of the stock. Vermillion Wealth Management Inc. bought a new stake in Barrick Mining during the second quarter worth approximately $25,000. Crowley Wealth Management Inc. bought a new position in shares of Barrick Mining during the 2nd quarter valued at about $26,000. Concord Wealth Partners bought a new position in shares of Barrick Mining during the 2nd quarter valued at about $26,000. Ameriflex Group Inc. bought a new position in shares of Barrick Mining during the 2nd quarter valued at about $27,000. Finally, Trifecta Capital Advisors LLC bought a new stake in shares of Barrick Mining in the 2nd quarter worth approximately $27,000. Institutional investors and hedge funds 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.