Wall Street analysts forecast that Barrick Mining (B) will report quarterly earnings of $0.82 per share in its upcoming release, pointing to a year-over-year increase of 78.3%. It is anticipated that revenues will amount to $5.1 billion, exhibiting an increase of 39.8% compared to the year-ago quarter.
The current level reflects an upward revision of 39.3% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
With that in mind, let's delve into the average projections of some Barrick Mining metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts forecast 'Gold - Gold produced' to reach 889 thousands of ounces. The estimate compares to the year-ago value of 1080 thousands of ounces.
The consensus estimate for 'Gold - All-in sustaining costs (AISC)' stands at $1554.55 . Compared to the present estimate, the company reported $1451.00 in the same quarter last year.
Analysts expect 'All-in sustaining costs - Copper' to come in at $2.87 . Compared to the current estimate, the company reported $3.07 in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Gold - Total cash costs per ounce (TCC)' will likely reach $1185.27 . Compared to the current estimate, the company reported $1046.00 in the same quarter of the previous year.
View all Key Company Metrics for Barrick Mining here>>>
Shares of Barrick Mining have experienced a change of +1.5% in the past month compared to the +1.8% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), B is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Barrick Mining Corporation (B): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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