Q3 EPS Estimates for Barrick Gold Lowered by Raymond James

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Equities researchers at Raymond James cut their Q3 2024 earnings per share (EPS) estimates for Barrick Gold in a research note issued to investors on Wednesday, October 16th. Raymond James analyst B. Macarthur now forecasts that the gold and copper producer will earn $0.30 per share for the quarter, down from their previous forecast of $0.31. Raymond James 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 $1.27 per share.

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

Several other research firms have also issued reports on GOLD. Jefferies Financial Group boosted their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Royal Bank of Canada upped their target price 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. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Thursday, August 29th. CIBC boosted their target price on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Scotiabank raised their price target on shares of Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to 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 $20.92 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01. The company has a market capitalization of $36.67 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 0.47 and a beta of 0.55. Barrick Gold has a fifty-two week low of $13.76 and a fifty-two week high of $21.21. The company’s 50-day moving average is $20.05 and its 200 day moving average is $18.23.

Institutional Trading of Barrick Gold

Institutional investors have recently bought and sold shares of the stock. DCF Advisers LLC raised its holdings in shares of Barrick Gold by 48.3% during the second quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock valued at $1,793,000 after acquiring an additional 35,000 shares during the last quarter. Evexia Wealth LLC acquired a new position in Barrick Gold during the 3rd quarter worth about $2,382,000. 1832 Asset Management L.P. boosted its stake in shares of Barrick Gold by 3.6% in the first quarter. 1832 Asset Management L.P. now owns 1,089,855 shares of the gold and copper producer’s stock valued at $18,135,000 after purchasing an additional 38,100 shares during the period. First Hawaiian Bank purchased a new stake in shares of Barrick Gold during the first quarter worth $235,000. Finally, RFG Advisory LLC raised its position in Barrick Gold by 87.0% in the 1st quarter. RFG Advisory LLC now owns 41,002 shares of the gold and copper producer’s stock valued at $682,000 after purchasing an additional 19,077 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold’s dividend payout ratio (DPR) is presently 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.