Barrick Mining (NYSE:B) Announces Earnings Results

Barrick Mining (NYSE:B) (TSE:ABX) announced its quarterly earnings results on Monday. The gold and copper producer reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.19, Briefing.com reports. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The business’s revenue for the quarter was up 66.7% compared to the same quarter last year.

Barrick Mining Stock Performance

NYSE B opened at $47.12 on Tuesday. Barrick Mining has a 1 year low of $17.41 and a 1 year high of $54.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 2.33. The firm has a market cap of $78.95 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 1.29 and a beta of 0.41. The company has a fifty day moving average price of $42.16 and a 200-day moving average price of $42.73.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a $0.175 dividend. The ex-dividend date is Friday, May 29th. This represents a $0.70 annualized dividend and a dividend yield of 1.5%. Barrick Mining’s dividend payout ratio is presently 57.34%.

Barrick Mining News Summary

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

• Positive Sentiment: Barrick’s Q1 results beat EPS estimates, with production and cost control coming in better than expected, reinforcing the company’s operating momentum. Barrick Mining’s Q1 Changed Everything (Review)
• Positive Sentiment: The board authorized a $3.0 billion share repurchase, which can boost earnings per share over time and signals confidence in Barrick’s cash generation. Barrick Board Authorizes $3.0 Billion Share Repurchase
• Positive Sentiment: Barrick also declared a quarterly dividend of $0.175 per share, adding another sign of strong free cash flow and shareholder-friendly capital allocation. Barrick Declares Q1 Dividend
• Positive Sentiment: Reports highlighted above-guidance gold production and robust free cash flow, which helped fuel the stock’s rally and improve sentiment on full-year execution. Barrick Mining jumps as Q1 results beat production guidance and company outlines shareholder-return plans

Hedge Funds Weigh In On Barrick Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in B. Intesa Sanpaolo Wealth Management purchased a new position in shares of Barrick Mining in the 4th quarter worth about $26,000. JPL Wealth Management LLC purchased a new position in shares of Barrick Mining in the 3rd quarter worth about $28,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Barrick Mining in the 3rd quarter worth about $31,000. HM Payson & Co. boosted its holdings in shares of Barrick Mining by 736.0% in the 4th quarter. HM Payson & Co. now owns 836 shares of the gold and copper producer’s stock worth $36,000 after buying an additional 736 shares during the last quarter. Finally, Peterson Wealth Services purchased a new position in shares of Barrick Mining in the 4th quarter worth about $52,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

B has been the subject of a number of recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Barrick Mining in a research note on Friday, March 27th. UBS Group reduced their target price on shares of Barrick Mining from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, March 27th. ATB Cormark Capital Markets lowered shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Wall Street Zen upgraded shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. Finally, Canaccord Genuity Group reduced their target price on shares of Barrick Mining to $77.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Barrick Mining presently has an average rating of “Moderate Buy” and a consensus price target of $54.17.

About Barrick Mining

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.