Barrick Mining (NYSE:B) Issues Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Key Points

• Barrick Mining reported quarterly earnings of $0.98 per share, beating analyst expectations of $0.79 by $0.19.
• The company’s quarterly revenue jumped 66.7% year over year, with a net margin of 29.45% and return on equity of 12.10%.
• Despite the earnings beat, the stock was roughly flat on the day, and analysts currently view it as a Moderate Buy with a consensus target price of $54.17.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX issued its earnings results on Monday. The gold and copper producer reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.19, Briefing.com reports. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The company's quarterly revenue was up 66.7% on a year-over-year basis.

Barrick Mining Stock Down 0.0%

Barrick Mining stock opened at $43.12 on Monday. Barrick Mining has a twelve month low of $17.41 and a twelve month high of $54.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.33 and a current ratio of 2.92. The firm has a market cap of $72.24 billion, a PE ratio of 14.72, a P/E/G ratio of 1.29 and a beta of 0.41. The firm's 50 day moving average price is $42.36 and its two-hundred day moving average price is $42.56.

Analyst Upgrades and Downgrades

Several brokerages have commented on B. UBS Group decreased their target price on shares of Barrick Mining from $55.00 to $50.00 and set a "buy" rating for the company in a report on Friday, March 27th. Canadian Imperial Bank of Commerce decreased their price objective on shares of Barrick Mining to $63.00 and set an "outperformer" rating for the company in a research note on Tuesday, April 21st. ATB Cormark Capital Markets cut shares of Barrick Mining from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Scotiabank boosted their target price on shares of Barrick Mining from $43.00 to $63.00 and gave the company an "outperform" rating in a research note on Monday, January 26th. Finally, Canaccord Genuity Group reduced their target price on Barrick Mining to $77.00 and set a "buy" rating for the company in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.17.

Institutional Trading of Barrick Mining

Institutional investors have recently bought and sold shares of the company. CW Advisors LLC purchased a new stake in shares of Barrick Mining during the 2nd quarter worth about $283,000. EverSource Wealth Advisors LLC acquired a new stake in Barrick Mining in the second quarter valued at approximately $53,000. First Trust Advisors LP acquired a new position in shares of Barrick Mining during the 2nd quarter worth $857,000. Baird Financial Group Inc. bought a new position in shares of Barrick Mining during the 2nd quarter valued at $2,569,000. Finally, Cresset Asset Management LLC bought a new stake in Barrick Mining in the second quarter worth $543,000. Institutional investors and hedge funds own 90.82% of the company's stock.

Barrick Mining Company Profile

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.

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