Cormark Comments on Barrick Gold Corp’s FY2025 Earnings (NYSE:GOLD)

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Stock analysts at Cormark upped their FY2025 earnings per share (EPS) estimates for shares of Barrick Gold in a report released on Wednesday, April 17th. Cormark analyst R. Gray now anticipates that the gold and copper producer will post earnings of $0.83 per share for the year, up from their previous estimate of $0.81. The consensus estimate for Barrick Gold’s current full-year earnings is $0.90 per share.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the business earned $0.13 EPS.

A number of other research firms have also recently issued reports on GOLD. TD Securities dropped their price objective on Barrick Gold from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, February 16th. BMO Capital Markets dropped their price objective on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $18.00 price objective on shares of Barrick Gold in a report on Monday, March 4th. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Finally, Scotiabank lowered their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average target price of $21.48.

Barrick Gold Price Performance

GOLD opened at $17.09 on Friday. The business has a fifty day moving average of $15.91 and a 200 day moving average of $16.23. Barrick Gold has a 52-week low of $13.76 and a 52-week high of $20.75. The company has a quick ratio of 2.40, a current ratio of 3.16 and a debt-to-equity ratio of 0.15. The stock has a market cap of $30.00 billion, a P/E ratio of 23.74, a PEG ratio of 1.54 and a beta of 0.58.

Institutional Investors Weigh In On Barrick Gold

A number of hedge funds have recently made changes to their positions in GOLD. Wellington Management Group LLP increased its position in Barrick Gold by 58.4% during the 4th quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock valued at $1,821,963,000 after buying an additional 37,128,653 shares in the last quarter. Snider Financial Group acquired a new position in Barrick Gold during the 1st quarter valued at about $185,000. Van ECK Associates Corp increased its position in Barrick Gold by 9.7% during the 4th quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock valued at $1,464,070,000 after buying an additional 7,150,142 shares in the last quarter. Capital World Investors increased its position in Barrick Gold by 16.4% during the 4th quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock valued at $821,790,000 after buying an additional 6,417,244 shares in the last quarter. Finally, Ruffer LLP increased its position in Barrick Gold by 198.3% during the 4th quarter. Ruffer LLP now owns 9,606,218 shares of the gold and copper producer’s stock valued at $173,727,000 after buying an additional 6,385,566 shares in the last quarter. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a dividend of $0.074 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is currently 55.56%.

About Barrick Gold

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.