Scotiabank Lowers Earnings Estimates for Barrick Mining

Barrick Mining Corporation (NYSE:B) (TSE:ABX) – Equities researchers at Scotiabank cut their FY2026 EPS estimates for shares of Barrick Mining in a report released on Monday, November 2nd. Scotiabank analyst T. Jakusconek now forecasts that the gold and copper producer will post earnings per share of $3.60 for the year, down from their previous estimate of $3.61. Scotiabank has an “Outperform” rating and a $55.00 price target on the stock. The consensus estimate for Barrick Mining’s current full-year earnings is $3.49 per share.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings results on Monday, August 10th. The gold and copper producer reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The company’s quarterly revenue was up 43.8% compared to the same quarter last year.

Several other research firms have also recently commented on B. TD set a $59.00 price target on Barrick Mining and gave the stock a “buy” rating in a research note on Wednesday, September 16th. Wall Street Zen cut shares of Barrick Mining from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Canadian Imperial Bank of Commerce lowered Barrick Mining from a “sector outperform” rating to a “neutral” rating and lowered their price objective for the company from $57.00 to $49.00 in a report on Friday, October 16th. RBC Dominion Securities set a $53.00 target price on Barrick Mining and gave the stock an “outperform” rating in a research report on Thursday, October 22nd. Finally, Barclays boosted their target price on Barrick Mining from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.59.

Barrick Mining Stock Up 0.4%

Shares of NYSE:B opened at $40.28 on Friday. The stock has a market cap of $65.59 billion, a P/E ratio of 10.38, a P/E/G ratio of 1.25 and a beta of 0.52. Barrick Mining has a 1-year low of $32.17 and a 1-year high of $54.69. The firm has a fifty day moving average price of $41.46 and a 200 day moving average price of $42.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.36.

Barrick Mining Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were given a dividend of $0.1750 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, August 31st. Barrick Mining’s payout ratio is currently 18.04%.

Hedge Funds Weigh In On Barrick Mining

Hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp raised its position in Barrick Mining by 165.5% during the third quarter. Fifth Third Bancorp now owns 8,078 shares of the gold and copper producer’s stock valued at $329,000 after purchasing an additional 5,035 shares in the last quarter. Ritholtz Wealth Management raised its holdings in shares of Barrick Mining by 9.6% in the third quarter. Ritholtz Wealth Management now owns 78,072 shares of the gold and copper producer’s stock valued at $3,175,000 after purchasing an additional 6,811 shares during the last quarter. Silver Grove Financial Group Inc. increased its position in shares of Barrick Mining by 42.7% during the 3rd quarter. Silver Grove Financial Group Inc. now owns 893 shares of the gold and copper producer’s stock valued at $36,000 after purchasing an additional 267 shares during the last quarter. Inspire Trust Co. N.A. increased its position in Barrick Mining by 2.0% in the third quarter. Inspire Trust Co. N.A. now owns 51,700 shares of the gold and copper producer’s stock worth $2,103,000 after buying an additional 1,000 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. increased its stake in shares of Barrick Mining by 2.9% in the third quarter. Mesirow Financial Investment Management Inc. now owns 27,048 shares of the gold and copper producer’s stock worth $1,100,000 after purchasing an additional 752 shares in the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

About Barrick Mining

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the exploration, development and production of gold and copper. Its activities include operating mines, advancing development projects and managing mineral reserves across multiple jurisdictions.

The company’s gold operations include Nevada Gold Mines in the United States, a joint venture in which Barrick is the operator, as well as mines and projects in Canada, the Dominican Republic, Mali, Côte d’Ivoire, Tanzania and the Democratic Republic of the Congo.