FY2025 EPS Estimates for Barrick Mining Boosted by Analyst

Key Points

• National Bank Financial has raised its FY2025 earnings per share (EPS) estimate for Barrick Mining to $2.06, up from $1.99, maintaining an "Outperform" rating.
• CIBC World Markets upgraded Barrick Mining from a "hold" to a "strong-buy" rating, while Royal Bank of Canada increased its price target on the stock to $38.00.
• Barrick Mining recently reported quarterly earnings of $0.47 per share, meeting analysts' expectations, with a significant revenue increase of 16.4% year-over-year.

Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX - Research analysts at National Bank Financial lifted their FY2025 earnings per share (EPS) estimates for Barrick Mining in a report issued on Tuesday, September 23rd. National Bank Financial analyst S. Nagle now anticipates that the gold and copper producer will post earnings per share of $2.06 for the year, up from their previous forecast of $1.99. National Bank Financial currently has a "Outperform" rating on the stock. The consensus estimate for Barrick Mining's current full-year earnings is $1.47 per share.

Other analysts have also recently issued reports about the company. Cibc World Mkts raised Barrick Mining from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Royal Bank Of Canada increased their price objective on Barrick Mining from $34.00 to $38.00 and gave the stock an "outperform" rating in a research report on Monday. Scotiabank lifted their price objective on Barrick Mining from $25.00 to $26.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 13th. Sanford C. Bernstein restated an "outperform" rating on shares of Barrick Mining in a research report on Wednesday. Finally, Bank of America lifted their price target on shares of Barrick Mining from $29.00 to $34.00 and gave the stock a "neutral" rating in a report on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $33.33.

Barrick Mining Price Performance

Shares of NYSE B opened at $33.61 on Thursday. 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 fifty-two week low of $15.11 and a fifty-two week high of $36.10. The stock's 50-day simple moving average is $25.64 and its 200-day simple moving average is $21.71. The firm has a market capitalization of $57.23 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 0.61 and a beta of 0.28.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its 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 firm had revenue of $3.72 billion during 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 was up 16.4% compared to the same quarter last year. During the same period last year, the business posted $0.32 earnings per share.

Barrick Mining Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, August 29th. Barrick Mining's payout ratio is 37.74%.

Hedge Funds Weigh In On Barrick Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vermillion Wealth Management Inc. bought a new position in Barrick Mining in the 2nd quarter worth about $25,000. Crowley Wealth Management Inc. acquired a new position in Barrick Mining in the second quarter worth approximately $26,000. Concord Wealth Partners purchased a new position in Barrick Mining in the 2nd quarter worth about $26,000. Ameriflex Group Inc. acquired a new stake in shares of Barrick Mining during the second quarter valued at approximately $27,000. Finally, Trifecta Capital Advisors LLC acquired a new position in Barrick Mining during the second quarter valued at $27,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

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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