Scotiabank Raises Earnings Estimates for Barrick Mining

Key Points

• Scotiabank raised its FY2027 EPS forecast for Barrick Mining to $3.84 from $3.79 and maintained an Outperform rating with a $55 price target.
• Barrick’s latest reported quarter beat estimates, with EPS of $0.82 versus $0.81 expected and revenue of $5.29 billion, up 43.8% year over year.
• Analysts overall have a Moderate Buy consensus rating and an average price target of $52.59; the company’s annualized dividend is $0.70 per share, yielding about 1.7%.

Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX - Equities researchers at Scotiabank lifted their FY2027 earnings per share estimates for shares of Barrick Mining in a report released on Monday, November 2nd. Scotiabank analyst T. Jakusconek now forecasts that the gold and copper producer will post earnings of $3.84 per share for the year, up from their previous forecast of $3.79. Scotiabank currently has an "Outperform" rating and a $55.00 target price on the stock. The consensus estimate for Barrick Mining's current full-year earnings is $3.49 per share.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.01. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. The company had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.10 billion. During the same quarter in the previous year, the business posted $0.47 EPS. Barrick Mining's revenue was up 43.8% compared to the same quarter last year.

Several other brokerages also recently issued reports on B. Sanford C. Bernstein dropped their target price on shares of Barrick Mining from $61.00 to $56.50 and set an "outperform" rating on the stock in a research note on Wednesday, September 9th. RBC Dominion Securities set a $53.00 price target on shares of Barrick Mining and gave the company an "outperform" rating in a research report on Thursday, October 22nd. Weiss Ratings raised shares of Barrick Mining from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. JPMorgan Chase & Co. boosted their price objective on shares of Barrick Mining from $52.00 to $55.00 and gave the stock an "overweight" rating in a report on Wednesday, October 21st. Finally, Wall Street Zen cut Barrick Mining from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Barrick Mining presently has an average rating of "Moderate Buy" and an average target price of $52.59.

Barrick Mining Stock Up 8.4%

NYSE:B opened at $40.16 on Thursday. The firm has a market cap of $65.41 billion, a P/E ratio of 10.83, a P/E/G ratio of 1.15 and a beta of 0.52. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.36 and a current ratio of 3.01. Barrick Mining has a fifty-two week low of $32.10 and a fifty-two week high of $54.69. The firm has a 50-day simple moving average of $41.59 and a two-hundred day simple moving average of $42.07.

Barrick Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a $0.1750 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.70 dividend on an annualized basis and a yield of 1.7%. Barrick Mining's payout ratio is 18.04%.

Hedge Funds Weigh In On Barrick Mining

Several hedge funds and other institutional investors have recently bought and sold shares of B. Keybank National Association OH increased its holdings in Barrick Mining by 25.2% during the third quarter. Keybank National Association OH now owns 35,166 shares of the gold and copper producer's stock valued at $1,430,000 after buying an additional 7,072 shares during the last quarter. Equity Investment Corp raised its position in Barrick Mining by 3.4% in the third quarter. Equity Investment Corp now owns 1,852,805 shares of the gold and copper producer's stock worth $75,354,000 after acquiring an additional 61,239 shares during the period. AlphaCore Capital LLC raised its position in Barrick Mining by 20.8% in the third quarter. AlphaCore Capital LLC now owns 36,828 shares of the gold and copper producer's stock worth $1,499,000 after acquiring an additional 6,341 shares during the period. Fulcrum Asset Management LLP purchased a new position in shares of Barrick Mining during the 3rd quarter worth $1,479,000. Finally, M Holdings Securities Inc. boosted its stake in shares of Barrick Mining by 7.8% during the 3rd quarter. M Holdings Securities Inc. now owns 16,469 shares of the gold and copper producer's stock worth $635,000 after acquiring an additional 1,195 shares during the last quarter. Institutional investors own 90.82% of the company's stock.

About Barrick Mining

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the exploration, development and production of gold and copper. Its activities include operating mines, advancing development projects and managing mineral reserves across multiple jurisdictions.

The company’s gold operations include Nevada Gold Mines in the United States, a joint venture in which Barrick is the operator, as well as mines and projects in Canada, the Dominican Republic, Mali, Côte d’Ivoire, Tanzania and the Democratic Republic of the Congo.

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