Barrick Gold Corp (NYSE:GOLD) Forecasted to Earn Q4 2024 Earnings of $0.46 Per Share

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Stock analysts at Raymond James raised their Q4 2024 EPS estimates for Barrick Gold in a research report issued on Wednesday, September 25th. Raymond James analyst B. Macarthur now forecasts that the gold and copper producer will post earnings per share of $0.46 for the quarter, up from their previous estimate of $0.45. 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 $1.25 per share.

Several other research analysts also recently commented on GOLD. Scotiabank lifted their target price on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. CIBC upped their price objective on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Thursday, August 29th. Jefferies Financial Group upped 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, Royal Bank of Canada raised their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Barrick Gold has a consensus rating of “Moderate Buy” and an average target price of $23.60.

Barrick Gold Price Performance

Shares of NYSE GOLD opened at $20.23 on Friday. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average price is $19.34 and its two-hundred day moving average price is $17.76. The company has a market cap of $35.46 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 0.49 and a beta of 0.55. Barrick Gold has a twelve month low of $13.76 and a twelve month high of $21.21.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the firm posted $0.19 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 1.98%. Barrick Gold’s dividend payout ratio is 48.78%.

Institutional Trading of Barrick Gold

Large investors have recently made changes to their positions in the company. Heritage Wealth Management Inc. bought a new position in Barrick Gold in the second quarter valued at about $236,000. Sanctuary Advisors LLC bought a new stake in shares of Barrick Gold during the 2nd quarter valued at approximately $934,000. New Wave Wealth Advisors LLC acquired a new position in Barrick Gold during the 2nd quarter worth approximately $219,000. Granite Bay Wealth Management LLC bought a new position in Barrick Gold in the 2nd quarter valued at approximately $348,000. Finally, Truist Financial Corp boosted its position in Barrick Gold by 27.8% in the second quarter. Truist Financial Corp now owns 95,794 shares of the gold and copper producer’s stock valued at $1,598,000 after buying an additional 20,842 shares in the last quarter. Institutional investors and hedge funds 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.