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

Barrick Mining (NYSE:BGet Free Report) (TSE:ABX) posted its earnings results on Thursday. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.19, Briefing.com reports. Barrick Mining had a return on equity of 9.48% and a net margin of 24.53%.The firm had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.15 billion. The business’s revenue was up 44.6% on a year-over-year basis.

Barrick Mining Stock Up 2.8%

NYSE:B traded up $1.25 during trading hours on Friday, hitting $45.22. The stock had a trading volume of 7,471,026 shares, compared to its average volume of 16,951,643. The company has a market cap of $75.76 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 0.39 and a beta of 0.40. The business has a 50 day simple moving average of $45.85 and a two-hundred day simple moving average of $35.56. Barrick Mining has a 1-year low of $16.92 and a 1-year high of $54.69. The company has a current ratio of 2.94, a quick ratio of 2.33 and a debt-to-equity ratio of 0.14.

Barrick Mining Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a $0.42 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a yield of 3.7%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s dividend payout ratio (DPR) is currently 33.82%.

Institutional Investors Weigh In On Barrick Mining

Several hedge funds and other institutional investors have recently added to or reduced their stakes in B. CIBC Private Wealth Group LLC boosted its position in Barrick Mining by 58.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,973 shares of the gold and copper producer’s stock valued at $130,000 after buying an additional 1,458 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Barrick Mining in the third quarter worth about $299,000. Captrust Financial Advisors boosted its holdings in Barrick Mining by 12.0% in the third quarter. Captrust Financial Advisors now owns 200,642 shares of the gold and copper producer’s stock valued at $6,575,000 after purchasing an additional 21,449 shares during the last quarter. Coldstream Capital Management Inc. acquired a new stake in Barrick Mining during the 3rd quarter valued at approximately $240,000. Finally, Advisory Services Network LLC grew its stake in Barrick Mining by 66.0% during the 3rd quarter. Advisory Services Network LLC now owns 23,164 shares of the gold and copper producer’s stock valued at $759,000 after purchasing an additional 9,209 shares in the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining News Summary

Here are the key news stories impacting Barrick Mining this week:

Analyst Ratings Changes

A number of research analysts recently weighed in on B shares. TD Cowen restated a “buy” rating on shares of Barrick Mining in a report on Wednesday, November 26th. Cormark raised Barrick Mining from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 11th. Canaccord Genuity Group increased their price objective on Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Jefferies Financial Group restated a “buy” rating and set a $55.00 price target on shares of Barrick Mining in a report on Sunday, December 7th. Finally, Royal Bank Of Canada increased their price target on Barrick Mining from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Barrick Mining presently has a consensus rating of “Buy” and a consensus price target of $52.75.

View Our Latest Stock Analysis on B

About Barrick Mining

(Get Free Report)

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.

Further Reading

Earnings History for Barrick Mining (NYSE:B)

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