Barrick Mining (NYSE:B) Posts Earnings Results, Beats Expectations By $0.01 EPS

Barrick Mining (NYSE:B) (TSE:ABX) issued its quarterly earnings data on Monday. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01, Zacks reports. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same period in the prior year, the business posted $0.09 earnings per share. The company’s quarterly revenue was up 23.2% compared to the same quarter last year.

Barrick Mining Trading Up 5.5%

B stock traded up $1.84 during trading on Monday, reaching $34.93. 20,566,376 shares of the stock traded hands, compared to its average volume of 20,035,779. The firm has a market capitalization of $58.94 billion, a PE ratio of 21.97, a P/E/G ratio of 0.40 and a beta of 0.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53. The business’s 50 day moving average price is $31.94 and its 200-day moving average price is $24.91. Barrick Mining has a 52-week low of $15.11 and a 52-week high of $36.40.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC acquired a new stake in Barrick Mining during the second quarter worth about $53,000. WealthCollab LLC bought a new position in Barrick Mining during the 2nd quarter worth $61,000. McIlrath & Eck LLC acquired a new stake in shares of Barrick Mining in the 2nd quarter worth about $89,000. Banque Transatlantique SA bought a new position in Barrick Mining in the 2nd quarter worth about $199,000. Finally, Diversify Advisory Services LLC acquired a new stake in shares of Barrick Mining in the second quarter valued at approximately $205,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

B has been the topic of several analyst reports. CIBC upped their price target on shares of Barrick Mining from $38.00 to $50.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Wall Street Zen downgraded Barrick Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Zacks Research lowered Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. National Bank Financial raised Barrick Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 22nd. Finally, National Bankshares upgraded Barrick Mining to an “outperform” rating in a research note on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.90.

About Barrick Mining

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.