Q4 EPS Estimates for Barrick Gold Reduced by Raymond James

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Research analysts at Raymond James decreased their Q4 2024 earnings per share (EPS) estimates for 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 forecast of $0.46. Raymond James currently has a “Outperform” rating and a $26.00 price target 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.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 5.82% and a net margin of 13.19%. The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the firm earned $0.19 earnings per share. The business’s revenue was up 11.6% compared to the same quarter last year.

Other equities research analysts have also issued research reports about the stock. TD Securities reduced their price target 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. UBS Group downgraded Barrick Gold from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Royal Bank of Canada raised their target price on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Jefferies Financial Group upped their price target on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.90.

Barrick Gold Stock Down 1.2 %

Shares of Barrick Gold stock opened at $16.81 on Wednesday. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. Barrick Gold has a 12-month low of $13.76 and a 12-month high of $21.35. The company has a market cap of $29.38 billion, a P/E ratio of 18.10, a PEG ratio of 0.40 and a beta of 0.56. The company’s fifty day simple moving average is $19.84 and its two-hundred day simple moving average is $18.49.

Barrick Gold Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio is presently 43.01%.

Institutional Trading of Barrick Gold

Several institutional investors have recently bought and sold shares of the company. Sei Investments Co. raised its stake in shares of Barrick Gold by 9.5% in the first quarter. Sei Investments Co. now owns 685,876 shares of the gold and copper producer’s stock worth $11,413,000 after purchasing an additional 59,456 shares during the last quarter. Russell Investments Group Ltd. raised its position in Barrick Gold by 7.2% in the 1st quarter. Russell Investments Group Ltd. now owns 2,268,534 shares of the gold and copper producer’s stock worth $37,754,000 after buying an additional 151,458 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in Barrick Gold by 10.3% during the 1st quarter. Bleakley Financial Group LLC now owns 24,121 shares of the gold and copper producer’s stock valued at $401,000 after acquiring an additional 2,245 shares during the period. First Eagle Investment Management LLC lifted its stake in Barrick Gold by 31.6% during the 1st quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock valued at $978,766,000 after acquiring an additional 14,138,639 shares during the period. Finally, Kingsview Wealth Management LLC bought a new stake in shares of Barrick Gold in the first quarter worth approximately $190,000. 62.85% of the stock is owned by hedge funds and other institutional investors.

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.