Adjusted EPS for Q2 rose 74% yr/yr, in line with estimates
Company announced $0.175 quarterly dividend and $1.2 bln in share buybacks during the quarter
Result Drivers
Gold production boost - Q2 gold production rose 11% over Q1 to 796,000 oz, exceeding guidance, driven by ahead-of-schedule ramp-up at Loulo-Gounkoto, faster recovery at Pueblo Viejo, and record underground tonnes at Cortez as Goldrush ramped up
Higher realized prices - Co said increased earnings were driven by higher realized gold and copper prices
Cost pressures - Gold cost of sales and AISC rose yr/yr due to lower grades processed, higher fuel costs, and increased royalties tied to stronger realized gold price
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the gold peer group is "buy"
Wall Street's median 12-month price target for Barrick Mining Corp is C$81.69, about 34% above its August 7 closing price of C$60.96
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago
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