Stifel Canada Estimates Barrick Gold FY2028 Earnings

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Analysts at Stifel Canada issued their FY2028 EPS estimates for shares of Barrick Gold in a research note issued to investors on Wednesday, March 19th. Stifel Canada analyst R. Profiti anticipates that the gold and copper producer will post earnings per share of $1.44 for the year. Stifel Canada has a “Strong-Buy” rating on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $1.47 per share.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%.

Other analysts have also issued reports about the stock. CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Bank of America lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $21.00 to $18.00 in a research note on Monday, January 27th. UBS Group upgraded shares of Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Wednesday, March 5th. TD Securities cut their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.75.

Barrick Gold Stock Down 2.2 %

Shares of Barrick Gold stock opened at $18.86 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. The stock has a market capitalization of $32.54 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58. Barrick Gold has a 52-week low of $0.25 and a 52-week high of $21.35. The company has a 50-day simple moving average of $17.50 and a two-hundred day simple moving average of $18.05.

Barrick Gold declared that its board has authorized a share buyback plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the gold and copper producer to buy up to 3.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold’s payout ratio is 32.52%.

Institutional Investors Weigh In On Barrick Gold

A number of hedge funds have recently bought and sold shares of the business. Moors & Cabot Inc. raised its stake 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. increased its position in Barrick Gold by 1.4% during the third quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock valued at $855,000 after acquiring an additional 590 shares during the last quarter. Avior Wealth Management LLC increased its position in Barrick Gold by 24.1% during the third quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock valued at $68,000 after acquiring an additional 659 shares during the last quarter. Keystone Financial Group increased its position in Barrick Gold by 1.4% during the fourth quarter. Keystone Financial Group now owns 56,394 shares of the gold and copper producer’s stock valued at $874,000 after acquiring an additional 753 shares during the last quarter. Finally, VisionPoint Advisory Group LLC increased its position in Barrick Gold by 6.7% during the fourth quarter. VisionPoint Advisory Group LLC now owns 14,051 shares of the gold and copper producer’s stock valued at $224,000 after acquiring an additional 880 shares during the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

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.