Barrick Mining (NYSE:B) Posts Earnings Results, Beats Estimates By $0.19 EPS

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

Barrick Mining Price Performance

NYSE:B opened at $43.12 on Monday. 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 company has a 50-day moving average of $42.36 and a 200-day moving average of $42.56. Barrick Mining has a 52 week low of $17.41 and a 52 week high of $54.69. The company has a market capitalization of $72.24 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.29 and a beta of 0.41.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group reduced their price objective on shares of Barrick Mining to $77.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. ATB Cormark Capital Markets cut shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Zacks Research lowered Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 13th. Scotiabank increased their target price on Barrick Mining from $43.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $54.17.

Institutional Investors Weigh In On Barrick Mining

A number of institutional investors have recently added to or reduced their stakes in the stock. Compound Planning Inc. raised its holdings in shares of Barrick Mining by 7.8% in the 4th quarter. Compound Planning Inc. now owns 48,984 shares of the gold and copper producer’s stock worth $2,133,000 after buying an additional 3,541 shares in the last quarter. Corient Private Wealth LLC raised its stake in Barrick Mining by 64.2% during the fourth quarter. Corient Private Wealth LLC now owns 81,770 shares of the gold and copper producer’s stock worth $3,562,000 after acquiring an additional 31,959 shares in the last quarter. Vident Advisory LLC lifted its holdings in shares of Barrick Mining by 352.7% during the fourth quarter. Vident Advisory LLC now owns 192,048 shares of the gold and copper producer’s stock valued at $8,364,000 after acquiring an additional 149,625 shares during the period. Wahed Invest LLC boosted its stake in shares of Barrick Mining by 6.9% in the 4th quarter. Wahed Invest LLC now owns 32,759 shares of the gold and copper producer’s stock valued at $1,429,000 after purchasing an additional 2,112 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in shares of Barrick Mining in the 4th quarter worth about $401,000. 90.82% of the stock is owned by institutional investors and hedge funds.

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.