Cormark Predicts 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 - Research analysts at Cormark issued their FY2027 EPS estimates for shares of Barrick Mining in a report issued on Tuesday, August 12th. Cormark analyst R. Gray forecasts 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.

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 (EPS) for the quarter, hitting analysts' consensus estimates of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period last year, the company earned $0.32 EPS. The firm's quarterly revenue was up 16.4% on a year-over-year basis.

B has been the topic of a number of other research reports. CIBC raised Barrick Mining from a "neutral" rating to an "outperform" rating in a research report on Tuesday. Cibc World Mkts upgraded Barrick Mining from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. 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. Wall Street Zen lowered shares of Barrick Mining from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, Scotiabank lifted their target price on shares of Barrick Mining from $25.00 to $26.00 and gave the company a "sector perform" rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Barrick Mining currently has a consensus rating of "Moderate Buy" and an average target price of $24.77.

Barrick Mining Price Performance

Shares of Barrick Mining stock traded up $0.58 during trading on Wednesday, hitting $24.08. The stock had a trading volume of 2,487,548 shares, compared to its average volume of 19,601,699. The business has a fifty day moving average of $21.29 and a two-hundred day moving average of $19.52. The firm has a market cap of $41.09 billion, a P/E ratio of 15.15, a PEG ratio of 0.35 and a beta of 0.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.16. Barrick Mining has a fifty-two week low of $15.11 and a fifty-two week high of $24.08.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. purchased a new stake in Barrick Mining during the 2nd quarter valued at $1,459,633,000. First Eagle Investment Management LLC bought a new stake in Barrick Mining in the second quarter worth about $822,056,000. Capital International Investors increased its position in shares of Barrick Mining by 136.1% during the fourth quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock worth $516,055,000 after acquiring an additional 19,189,830 shares during the period. TD Asset Management Inc purchased a new position in Barrick Mining during the second quarter valued at approximately $386,328,000. Finally, Ninety One UK Ltd purchased a new position in Barrick Mining in the second quarter worth $326,862,000. 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.

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