Earnings Preview: Retail Investors Display Uncertainty And Bearishness For Barrick Gold And Rumble

After a volatile week on Wall Street, investors are highly-anticipating earnings announcements from a mining firm, a biopharmaceutical company and video-sharing platform on Monday. Here’s a look at what to expect from their quarterly earnings and how retail investors are assessing these firms ahead of the results.

1. Barrick Gold (GOLD): The gold-miner is expected to report earnings per share (EPS) of $0.28 and a revenue of $3.13 billion when it announces its second-quarter results on Monday before the bell. Recently, the firm had reported a 1% QoQ rise in its preliminary gold production for the quarter-ended June 2024 at 948,000 ounces. Preliminary sales for the quarter rose 5% to 956,000 ounces of gold.

Barrick had indicated that gold and copper production in 2024 is expected to progressively increase each quarter with a higher weighting in the second half. Despite the positive outlook, retail sentiment on Stocktwits continues to trend in the ‘neutral’ zone (51/100) ahead of the earnings announcement.

2. Dare Bioscience Inc (DARE): The clinical-stage biopharmaceutical company focused on women’s health is expected to report a second-quarter earnings loss of $0.66 when it announces its results after the market close on Monday. 

Investors will be watching whether the firm manages to improve its revenues during the quarter and for any guidance updates. Shares of the firm have lost over 17% since the beginning of the year.

3. Rumble Inc (RUM): The video-sharing platform is expected to post an earnings loss of $0.15 and a revenue of $19.69 million when it announces its second-quarter results on Monday after the closing bell. The firm grabbed eyeballs this week after it joined the social media platform X to file antitrust lawsuits that alleged a conspiracy to withhold advertising revenue from Rumble and other digital media platforms.

Rumble has named World Federation of Advertisers (WFA) as well as advertising agency WPP and its subsidiary GroupM Worldwide as defendants.

Ahead of the earnings, retail sentiment on Stocktwits has flipped into the ‘bearish’ territory (31/100) from the ‘bullish’ zone a day ago.

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