Q4 EPS Estimates for Barrick Gold Lowered by Raymond James

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Raymond James cut their Q4 2024 EPS estimates for shares of Barrick Gold in a research report issued on Sunday, November 10th. Raymond James analyst B. Macarthur now forecasts that the gold and copper producer will post earnings per share of $0.44 for the quarter, down from their previous estimate of $0.46. Raymond James currently has a “Outperform” rating and a $26.00 target price on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $1.29 per share. Raymond James also issued estimates for Barrick Gold’s Q1 2025 earnings at $0.41 EPS, Q2 2025 earnings at $0.43 EPS, Q3 2025 earnings at $0.44 EPS, Q4 2025 earnings at $0.45 EPS and FY2025 earnings at $1.72 EPS.

GOLD has been the subject of a number of other research reports. UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $22.00 in a report on Wednesday, October 30th. Scotiabank cut their target price on shares of Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. TD Securities cut their target price on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, August 29th. Finally, Royal Bank of Canada raised their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.90.

Barrick Gold Trading Up 0.4 %

Shares of GOLD opened at $16.85 on Wednesday. Barrick Gold has a 1-year low of $13.76 and a 1-year high of $21.35. The company has a 50-day moving average of $19.79 and a 200 day moving average of $18.48. The firm has a market capitalization of $29.45 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 0.40 and a beta of 0.56. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a net margin of 13.19% and a return on equity of 5.82%. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the business posted $0.19 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis.

Institutional Trading of Barrick Gold

Large investors have recently bought and sold shares of the stock. DCF Advisers LLC grew its position in Barrick Gold by 48.3% during the 2nd quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock worth $1,793,000 after purchasing an additional 35,000 shares during the last quarter. Entropy Technologies LP acquired a new stake in Barrick Gold during the 3rd quarter valued at approximately $3,711,000. Aigen Investment Management LP lifted its stake in Barrick Gold by 330.5% during the 3rd quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock valued at $1,974,000 after acquiring an additional 76,186 shares during the period. Evexia Wealth LLC acquired a new stake in Barrick Gold during the 3rd quarter valued at approximately $2,382,000. Finally, 1832 Asset Management L.P. lifted its stake in Barrick Gold by 3.6% during the 1st quarter. 1832 Asset Management L.P. now owns 1,089,855 shares of the gold and copper producer’s stock valued at $18,135,000 after acquiring an additional 38,100 shares during the period. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s payout ratio is currently 43.01%.

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.