Q3 2024 EPS Estimates for Barrick Gold Corp (NYSE:GOLD) Raised by Analyst

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Research analysts at Raymond James increased their Q3 2024 EPS estimates for shares of Barrick Gold in a research note issued on Wednesday, May 1st. Raymond James analyst B. Macarthur now expects that the gold and copper producer will post earnings per share of $0.34 for the quarter, up from their previous forecast of $0.33. Raymond James currently has a “Outperform” rating and a $23.00 target price on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $0.95 per share. Raymond James also issued estimates for Barrick Gold’s Q4 2024 earnings at $0.35 EPS, FY2024 earnings at $1.19 EPS and FY2025 earnings at $1.33 EPS.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, topping the consensus estimate of $0.15 by $0.04. Barrick Gold had a return on equity of 4.89% and a net margin of 12.58%. The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the prior year, the business posted $0.14 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year.

GOLD has been the subject of a number of other research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $18.00 target price on shares of Barrick Gold in a research report on Monday, March 4th. StockNews.com raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. Scotiabank decreased their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a report on Tuesday, February 20th. CIBC decreased their price objective on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Finally, TD Securities cut their price target on Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $21.60.

Barrick Gold Trading Down 0.5 %

Shares of Barrick Gold stock opened at $16.46 on Friday. Barrick Gold has a 1 year low of $13.76 and a 1 year high of $20.75. The stock has a fifty day moving average price of $16.34 and a 200-day moving average price of $16.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.16 and a quick ratio of 2.40. The firm has a market cap of $28.90 billion, a PE ratio of 20.07, a P/E/G ratio of 1.45 and a beta of 0.59.

Institutional Investors Weigh In On Barrick Gold

Institutional investors have recently bought and sold shares of the business. Principal Securities Inc. purchased a new stake in shares of Barrick Gold during the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of Barrick Gold by 175.6% in the 4th 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 bought a new position in shares of Barrick Gold in the 4th quarter worth $35,000. Mark Sheptoff Financial Planning LLC bought a new stake in Barrick Gold during the fourth quarter valued at about $45,000. Finally, Optiver Holding B.V. bought a new position in shares of Barrick Gold during the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a $0.10 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.40 annualized dividend and a yield of 2.43%. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio is currently 48.78%.

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.