Stifel Canada Estimates Barrick Gold Q3 Earnings

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Investment analysts at Stifel Canada issued their Q3 2024 EPS estimates for shares of Barrick Gold in a note issued to investors on Monday, October 21st. Stifel Canada analyst I. Rico expects that the gold and copper producer will post earnings of $0.32 per share for the quarter. The consensus estimate for Barrick Gold’s current full-year earnings is $1.27 per share. Stifel Canada also issued estimates for Barrick Gold’s FY2024 earnings at $1.39 EPS.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $0.19 EPS.

Other research analysts also recently issued research reports about the stock. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, August 29th. Scotiabank lifted their target price on shares of Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. CIBC boosted their price objective on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. UBS Group boosted their price objective on shares of Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Raymond James dropped their price objective on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and a consensus price target of $23.60.

Barrick Gold Stock Performance

Shares of GOLD opened at $20.32 on Wednesday. The company has a market capitalization of $35.62 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 0.47 and a beta of 0.55. Barrick Gold has a one year low of $13.76 and a one year high of $21.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.01 and a quick ratio of 2.31. The company’s fifty day moving average price is $20.16 and its 200 day moving average price is $18.30.

Institutional Trading of Barrick Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC lifted its position in shares of Barrick Gold by 198.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after purchasing an additional 935 shares in the last quarter. Clean Yield Group acquired a new position in Barrick Gold in the first quarter valued at approximately $25,000. Eastern Bank acquired a new position in Barrick Gold in the third quarter valued at approximately $32,000. Crewe Advisors LLC lifted its holdings in Barrick Gold by 628.8% in the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after buying an additional 1,572 shares during the period. Finally, Jackson Grant Investment Advisers Inc. acquired a new position in Barrick Gold in the second quarter valued at approximately $32,000. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 1.97%. Barrick Gold’s payout ratio is currently 48.78%.

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.