Q3 2024 EPS Estimates for Barrick Gold Corp Lowered by Raymond James (NYSE:GOLD)

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Equities researchers at Raymond James decreased their Q3 2024 earnings per share (EPS) estimates for Barrick Gold in a report released on Wednesday, September 25th. Raymond James analyst B. Macarthur now anticipates that the gold and copper producer will earn $0.31 per share for the quarter, down from their previous estimate of $0.39. Raymond James currently has a “Outperform” rating and a $26.00 target price on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $1.25 per share. Raymond James also issued estimates for Barrick Gold’s FY2024 earnings at $1.27 EPS.

Other analysts have also issued research reports about the company. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, August 29th. CIBC upped their target price on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Scotiabank upped their target price on Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group upped their target price on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 13th. Finally, Royal Bank of Canada increased their price objective on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.60.

Barrick Gold Trading Down 3.7 %

NYSE:GOLD opened at $20.23 on Monday. The stock has a fifty day moving average price of $19.38 and a two-hundred day moving average price of $17.82. The stock has a market capitalization of $35.46 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 0.49 and a beta of 0.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01. Barrick Gold has a 1 year low of $13.76 and a 1 year high of $21.21.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the prior year, the business earned $0.19 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year.

Institutional Trading of Barrick Gold

Several hedge funds have recently added to or reduced their stakes in the business. Clean Yield Group acquired a new stake in shares of Barrick Gold during the first quarter worth $25,000. Crewe Advisors LLC raised its position in shares of Barrick Gold by 628.8% during the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after purchasing an additional 1,572 shares during the period. Jackson Grant Investment Advisers Inc. acquired a new stake in shares of Barrick Gold during the second quarter worth $32,000. LRI Investments LLC acquired a new stake in shares of Barrick Gold during the first quarter worth $37,000. Finally, City State Bank raised its position in shares of Barrick Gold by 338.6% during the second quarter. City State Bank now owns 2,500 shares of the gold and copper producer’s stock worth $42,000 after purchasing an additional 1,930 shares during the period. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Dividend Announcement

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

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.