Barrick Mining FY2025 EPS Cut by Raymond James Financial

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 - Equities research analysts at Raymond James Financial reduced their FY2025 earnings per share (EPS) estimates for shares of Barrick Mining in a research report issued on Monday, August 11th. Raymond James Financial analyst B. Macarthur now forecasts that the gold and copper producer will post earnings of $1.92 per share for the year, down from their previous forecast of $2.01. The consensus estimate for Barrick Mining's current full-year earnings is $1.47 per share.

B has been the subject of a number of other reports. Royal Bank Of Canada set a $26.00 price objective on shares of Barrick Mining and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. BMO Capital Markets began coverage on shares of Barrick Mining in a research note on Wednesday, April 16th. They set a "market perform" rating for the company. Scotiabank set a $26.00 target price on shares of Barrick Mining and gave the company a "sector perform" rating in a report on Wednesday. CIBC upgraded shares of Barrick Mining from a "neutral" rating to an "outperform" rating in a report on Tuesday. Finally, Cibc World Mkts upgraded shares of Barrick Mining from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $24.77.

Barrick Mining Stock Performance

Shares of NYSE B traded down $0.29 during midday trading on Thursday, reaching $23.57. 1,077,695 shares of the company were exchanged, compared to its average volume of 19,586,174. The company has a current ratio of 3.21, a quick ratio of 2.16 and a debt-to-equity ratio of 0.14. Barrick Mining has a 1 year low of $15.11 and a 1 year high of $24.15. The stock has a fifty day simple moving average of $21.37 and a 200 day simple moving average of $19.55. The stock has a market cap of $40.22 billion, a P/E ratio of 14.87, a PEG ratio of 0.36 and a beta of 0.27.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly 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 company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%. Barrick Mining's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 EPS.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Penserra Capital Management LLC boosted its position in Barrick Mining by 1,919.0% during the first quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer's stock worth $56,000 after purchasing an additional 2,821 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Barrick Mining by 14.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer's stock worth $1,141,000 after purchasing an additional 9,149 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Barrick Mining by 24.4% in the first quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer's stock valued at $404,000 after acquiring an additional 4,082 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Barrick Mining by 25.9% in the first quarter. Janney Montgomery Scott LLC now owns 291,281 shares of the gold and copper producer's stock valued at $5,663,000 after acquiring an additional 59,906 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Barrick Mining by 85.2% during the 4th quarter. Northern Trust Corp now owns 1,657,330 shares of the gold and copper producer's stock valued at $25,689,000 after acquiring an additional 762,227 shares during the period. 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.

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