Barrick Gold FY2024 EPS Estimate Decreased by Raymond James

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Investment analysts at Raymond James reduced their FY2024 EPS estimates for Barrick Gold in a research report issued to clients and investors on Sunday, November 10th. Raymond James analyst B. Macarthur now anticipates that the gold and copper producer will post earnings per share of $1.25 for the year, down from their prior forecast of $1.27. 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 $1.29 per share.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a net margin of 13.19% and a return on equity of 5.85%. The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the company posted $0.19 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis.

Several other brokerages have also issued reports on GOLD. UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and cut their target price for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. Royal Bank of Canada raised their target price on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Jefferies Financial Group boosted their price objective 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. Scotiabank decreased their target price on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Finally, Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.90.

Barrick Gold Stock Down 2.2 %

GOLD opened at $17.02 on Tuesday. The business’s fifty day simple moving average is $19.89 and its 200 day simple moving average is $18.49. Barrick Gold has a 52 week low of $13.76 and a 52 week high of $21.35. 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 stock has a market cap of $29.75 billion, a PE ratio of 18.32, a P/E/G ratio of 0.43 and a beta of 0.56.

Barrick Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s payout ratio is presently 43.01%.

Institutional Investors Weigh In On Barrick Gold

A number of large investors have recently added to or reduced their stakes in the stock. Ritholtz Wealth Management grew its position in Barrick Gold by 2.8% during the third 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 during the period. Greenleaf Trust raised its position in shares of 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 buying an additional 540 shares during the last quarter. Moors & Cabot Inc. lifted its stake in Barrick Gold by 0.9% in the 3rd quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock worth $1,275,000 after purchasing an additional 579 shares in the last quarter. Silverlake Wealth Management LLC lifted its position in shares of Barrick Gold by 1.3% in the third quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock worth $992,000 after buying an additional 628 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its position in shares of Barrick Gold by 24.1% during the 3rd 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. 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.