Scotiabank Increases Earnings Estimates for Barrick Mining

Barrick Mining Corporation (NYSE:B) (TSE:ABX) – Stock analysts at Scotiabank increased their FY2027 EPS estimates for Barrick Mining in a research report issued on Wednesday, August 19th. Scotiabank analyst T. Jakusconek now expects that the gold and copper producer will earn $3.79 per share for the year, up from their previous estimate of $3.73. Scotiabank currently has a “Outperform” rating and a $55.00 price objective on the stock. The consensus estimate for Barrick Mining’s current full-year earnings is $3.52 per share.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, August 10th. The gold and copper producer reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. Barrick Mining’s revenue for the quarter was up 43.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 earnings per share.

B has been the topic of a number of other research reports. UBS Group dropped their price target on Barrick Mining from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Canadian Imperial Bank of Commerce set a $57.00 price objective on shares of Barrick Mining in a research note on Wednesday, August 12th. Citigroup reissued a “positive” rating on shares of Barrick Mining in a report on Wednesday, July 15th. Wall Street Zen cut Barrick Mining from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Barclays raised their price objective on Barrick Mining from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.57.

Barrick Mining Stock Up 2.7%

Shares of B stock opened at $46.34 on Friday. The stock’s fifty day moving average price is $38.70 and its 200 day moving average price is $41.53. Barrick Mining has a 1-year low of $24.89 and a 1-year high of $54.69. The company has a market cap of $76.27 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 0.87 and a beta of 0.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.36.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Caldwell Trust Co increased its position in shares of Barrick Mining by 6,688.3% during the fourth quarter. Caldwell Trust Co now owns 20,365 shares of the gold and copper producer’s stock valued at $887,000 after acquiring an additional 20,065 shares during the last quarter. Williamson Legacy Group LLC purchased a new position in shares of Barrick Mining during the 4th quarter worth approximately $1,315,000. Great Diamond Partners LLC acquired a new stake in Barrick Mining in the 4th quarter valued at approximately $2,393,000. Teacher Retirement System of Texas purchased a new stake in Barrick Mining in the fourth quarter valued at approximately $30,485,000. Finally, U S Global Investors Inc. lifted its stake in Barrick Mining by 211.4% during the fourth quarter. U S Global Investors Inc. now owns 315,000 shares of the gold and copper producer’s stock worth $13,718,000 after purchasing an additional 213,835 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.70 dividend on an annualized basis and a yield of 1.5%. Barrick Mining’s dividend payout ratio is 18.04%.

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.