Cormark Weighs in on Barrick Mining FY2027 Earnings

Key Points

• Cormark analysts predict that Barrick Mining's earnings per share (EPS) will reach $2.36 in FY2027, significantly higher than the current consensus estimate of $1.47.
• The company reported $0.47 EPS for its latest quarter, meeting analysts' expectations and showing a 16.4% increase in year-over-year revenue.
• Recent analyst ratings for Barrick Mining include upgrades from CIBC and Cibc World Mkts, with a consensus rating of "Moderate Buy" and an average target price of $24.77.

Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX - Equities researchers at Cormark issued their FY2027 earnings estimates for Barrick Mining in a note issued to investors on Tuesday, August 12th. Cormark analyst R. Gray anticipates that the gold and copper producer will earn $2.36 per share for the year. The consensus estimate for Barrick Mining's current full-year earnings is $1.47 per share.

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

Several other research firms have also weighed in on B. Cibc World Mkts raised shares of Barrick Mining from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Scotiabank set a $26.00 target price on shares of Barrick Mining and gave the stock a "sector perform" rating in a research note on Wednesday, August 13th. Wall Street Zen cut shares of Barrick Mining from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. CIBC upgraded shares of Barrick Mining from a "neutral" rating to an "outperform" rating in a report on Tuesday, August 12th. Finally, Royal Bank Of Canada set a $26.00 price target on shares of Barrick Mining and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.77.

Barrick Mining Stock Performance

B stock traded up $0.16 during trading on Wednesday, reaching $24.26. The company had a trading volume of 10,945,677 shares, compared to its average volume of 19,547,412. The firm has a 50-day simple moving average of $21.53 and a 200-day simple moving average of $19.70. The company has a market cap of $41.39 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 0.37 and a beta of 0.27. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. Barrick Mining has a twelve month low of $15.11 and a twelve month high of $24.44.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in B. Hollencrest Capital Management purchased a new stake in Barrick Mining during the 2nd quarter worth about $1,901,000. Westwood Holdings Group Inc. acquired a new stake in Barrick Mining in the 2nd quarter worth about $29,013,000. Nikko Asset Management Americas Inc. acquired a new position in shares of Barrick Mining in the 2nd quarter valued at about $1,686,000. Public Sector Pension Investment Board acquired a new position in shares of Barrick Mining in the 2nd quarter valued at about $3,465,000. Finally, Headlands Technologies LLC acquired a new position in Barrick Mining during the 2nd quarter worth approximately $646,000. Hedge funds and other institutional investors own 90.82% of the company's stock.

Barrick Mining Company Profile

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.