FY2024 EPS Estimates for Barrick Gold Reduced by Analyst

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Investment analysts at Raymond James lowered their FY2024 earnings per share estimates for shares of Barrick Gold in a research report issued to clients and investors on Thursday, January 9th. Raymond James analyst B. Macarthur now expects that the gold and copper producer will post earnings of $1.20 per share for the year, down from their prior forecast of $1.22. Raymond James currently has a “Outperform” rating and a $25.00 price target on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $1.28 per share. Raymond James also issued estimates for Barrick Gold’s Q4 2024 earnings at $0.39 EPS, Q1 2025 earnings at $0.33 EPS, Q2 2025 earnings at $0.30 EPS, Q3 2025 earnings at $0.35 EPS, Q4 2025 earnings at $0.37 EPS and FY2025 earnings at $1.39 EPS.

GOLD has been the topic of several other research reports. CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Citigroup lowered their price target on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. UBS Group cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. Cibc World Mkts downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Finally, Berenberg Bank raised their price target on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Barrick Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.82.

Barrick Gold Stock Performance

Shares of GOLD opened at $15.46 on Monday. Barrick Gold has a one year low of $13.76 and a one year high of $21.35. The company has a 50-day moving average of $16.74 and a two-hundred day moving average of $18.40. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. The stock has a market cap of $26.92 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 0.47 and a beta of 0.54.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is currently 43.01%.

Hedge Funds Weigh In On Barrick Gold

Several institutional investors have recently modified their holdings of the stock. City State Bank lifted its position in shares of Barrick Gold by 200.0% in the fourth quarter. City State Bank now owns 7,500 shares of the gold and copper producer’s stock worth $116,000 after purchasing an additional 5,000 shares in the last quarter. Legend Financial Advisors Inc. bought a new stake in Barrick Gold during the 4th quarter worth about $700,000. Bangor Savings Bank boosted its stake in shares of Barrick Gold by 4.5% during the 4th quarter. Bangor Savings Bank now owns 22,025 shares of the gold and copper producer’s stock worth $341,000 after buying an additional 956 shares during the last quarter. Confluence Investment Management LLC grew its holdings in shares of Barrick Gold by 3.4% in the 4th quarter. Confluence Investment Management LLC now owns 29,751 shares of the gold and copper producer’s stock valued at $461,000 after acquiring an additional 974 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Barrick Gold by 19.9% in the third quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock valued at $9,630,000 after acquiring an additional 80,366 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

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.