FY2024 EPS Estimates for Barrick Gold Reduced by Analyst

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Equities researchers at Stifel Canada reduced their FY2024 earnings per share estimates for Barrick Gold in a note issued to investors on Tuesday, February 4th. Stifel Canada analyst I. Rico now expects that the gold and copper producer will earn $1.22 per share for the year, down from their previous forecast of $1.33. The consensus estimate for Barrick Gold’s current full-year earnings is $1.25 per share. Stifel Canada also issued estimates for Barrick Gold’s FY2025 earnings at $1.67 EPS.

A number of other equities analysts have also recently commented on the stock. TD Securities reduced their price objective on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Berenberg Bank lifted their target price on shares of Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. CIBC cut shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Cibc World Mkts cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Finally, Raymond James lowered their target price on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average price target of $23.83.

Barrick Gold Stock Down 0.8 %

GOLD stock opened at $17.04 on Friday. Barrick Gold has a 1-year low of $13.76 and a 1-year high of $21.35. The business’s 50 day simple moving average is $16.20 and its 200 day simple moving average is $18.19. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $29.42 billion, a PE ratio of 18.32, a PEG ratio of 0.36 and a beta of 0.55.

Institutional Investors Weigh In On Barrick Gold

A number of large investors have recently bought and sold shares of GOLD. Ritholtz Wealth Management raised its position in shares of Barrick Gold by 2.8% in the 3rd quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock valued at $361,000 after buying an additional 502 shares in the last quarter. Greenleaf Trust raised its position in Barrick Gold by 2.1% during the third quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock valued at $510,000 after purchasing an additional 540 shares in the last quarter. Moors & Cabot Inc. raised its position in Barrick Gold by 0.9% during the third quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock valued at $1,275,000 after purchasing an additional 579 shares in the last quarter. Chelsea Counsel Co. boosted its holdings in shares of Barrick Gold by 1.4% in the 3rd quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock valued at $855,000 after purchasing an additional 590 shares in the last quarter. Finally, Silverlake Wealth Management LLC increased its stake in shares of Barrick Gold by 1.3% in the 3rd quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock valued at $992,000 after purchasing an additional 628 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.