Q2 2024 Earnings Estimate for Barrick Gold Corp (NYSE:GOLD) Issued By Raymond James

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Equities researchers at Raymond James raised their Q2 2024 earnings per share (EPS) estimates for Barrick Gold in a research note issued to investors on Tuesday, April 23rd. Raymond James analyst B. Macarthur now forecasts that the gold and copper producer will earn $0.32 per share for the quarter, up from their previous forecast of $0.21. Raymond James has a “Outperform” rating and a $23.00 price target on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $0.90 per share. Raymond James also issued estimates for Barrick Gold’s Q3 2024 earnings at $0.33 EPS, Q4 2024 earnings at $0.34 EPS and FY2024 earnings at $1.15 EPS.

A number of other research analysts also recently commented on GOLD. Jefferies Financial Group assumed coverage on shares of Barrick Gold in a research report on Thursday, February 29th. They issued a “buy” rating and a $21.00 target price on the stock. Scotiabank cut their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, February 20th. Argus reissued a “hold” rating on shares of Barrick Gold in a research report on Monday, February 26th. StockNews.com upgraded Barrick Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. Finally, CIBC reduced their price objective on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and a consensus price target of $20.06.

Barrick Gold Price Performance

GOLD stock opened at $17.08 on Friday. The stock has a market cap of $29.99 billion, a P/E ratio of 23.72, a PEG ratio of 1.53 and a beta of 0.58. The company has a current ratio of 3.16, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15. Barrick Gold has a twelve month low of $13.76 and a twelve month high of $20.75. The company’s 50 day moving average is $16.14 and its two-hundred day moving average is $16.31.

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

Institutional Investors Weigh In On Barrick Gold

A number of hedge funds have recently added to or reduced their stakes in GOLD. Principal Securities Inc. acquired a new stake in shares of Barrick Gold in the 4th quarter valued at approximately $26,000. EverSource Wealth Advisors LLC lifted its holdings in Barrick Gold by 175.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock valued at $32,000 after acquiring an additional 1,143 shares during the period. Bruce G. Allen Investments LLC purchased a new stake in shares of Barrick Gold during the 4th quarter worth $35,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Barrick Gold during the 4th quarter worth $45,000. Finally, Optiver Holding B.V. purchased a new position in shares of Barrick Gold in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.074 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Wednesday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is presently 55.56%.

Barrick Gold Company Profile

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.