FY2024 EPS Estimates for Barrick Gold Raised by Scotiabank

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Analysts at Scotiabank increased their FY2024 earnings estimates for shares of Barrick Gold in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now anticipates that the gold and copper producer will earn $1.15 per share for the year, up from their previous forecast of $1.11. Scotiabank currently has a “Sector Outperform” rating and a $23.00 target price on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $1.28 per share. Scotiabank also issued estimates for Barrick Gold’s FY2025 earnings at $1.50 EPS and FY2026 earnings at $1.46 EPS.

A number of other research analysts have also weighed in on GOLD. Citigroup decreased their price target on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Raymond James decreased their price target on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. Jefferies Financial Group raised their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, TD Securities decreased their price target on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and an average target price of $24.82.

Barrick Gold Trading Down 0.8 %

GOLD stock opened at $15.72 on Thursday. The company’s 50-day simple moving average is $16.81 and its 200-day simple moving average is $18.38. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. Barrick Gold has a 52-week low of $13.76 and a 52-week high of $21.35. The firm has a market cap of $27.37 billion, a P/E ratio of 16.90, a PEG ratio of 0.47 and a beta of 0.54.

Institutional Trading of Barrick Gold

Hedge funds and other institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its holdings in shares of Barrick Gold by 198.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after buying an additional 935 shares during the last quarter. Eastern Bank acquired a new stake in Barrick Gold in the 3rd quarter valued at approximately $32,000. JFS Wealth Advisors LLC increased its holdings in Barrick Gold by 451.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock valued at $38,000 after purchasing an additional 1,563 shares during the last quarter. AlphaMark Advisors LLC acquired a new stake in Barrick Gold in the 3rd quarter valued at approximately $60,000. Finally, BNP Paribas increased its holdings in Barrick Gold by 221.7% in the 3rd quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock valued at $62,000 after purchasing an additional 2,113 shares during the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.54%. Barrick Gold’s dividend payout ratio is currently 43.01%.

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.