Why Shares of Barrick Mining Jumped Close to 12% This Week
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Shares of gold and copper miner Barrick Mining (NYSE: B) shot up 12% this week, according to data from S&P Global Market Intelligence. The company reported earnings earlier in the week, showing strong cash-flow generation and rising production levels. The stock is up over 100% in the last six months.Here's why Barrick Mining rose this week, and whether the stock is a buy for investors right now.The third quarter for Barrick Mining was phenomenal. Gold production rose 4%, but due to the soaring price of the commodity, free cash flow was up 274% to $1.5 billion in the quarter. Annualized, that is $6 billion in free-cash-flow generation. Using this cash, management has now repurchased $1 billion of its outstanding shares year to date, bringing its shares outstanding down and raising earnings per share (EPS). It also raised the quarterly dividend payment by 25%.Continue readingWeiter zum vollständigen Artikel bei MotleyFool
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Quelle: MotleyFool
