Barrick Gold Corp (NYSE:GOLD) Expected to Earn Q1 2024 Earnings of $0.15 Per Share

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Stock analysts at National Bank Financial issued their Q1 2024 EPS estimates for Barrick Gold in a research report issued to clients and investors on Thursday, April 18th. National Bank Financial analyst M. Parkin anticipates that the gold and copper producer will earn $0.15 per share for the quarter. National Bank Financial has a “Sector Perform Overweight” rating on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $0.90 per share. National Bank Financial also issued estimates for Barrick Gold’s FY2024 earnings at $0.84 EPS and FY2025 earnings at $1.10 EPS.

Several other research firms have also recently issued reports on GOLD. Jefferies Financial Group started coverage on shares of Barrick Gold in a report on Thursday, February 29th. They set a “buy” rating and a $21.00 price target for the company. CIBC lowered their target price on shares of Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Raymond James lowered their target price on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. TD Securities lowered their target price on shares of Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Finally, Scotiabank lowered their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.06.

Barrick Gold Trading Up 1.6 %

NYSE GOLD opened at $16.69 on Monday. The stock has a market capitalization of $29.30 billion, a P/E ratio of 23.18, a P/E/G ratio of 1.59 and a beta of 0.58. Barrick Gold has a 52-week low of $13.76 and a 52-week high of $20.75. The firm has a 50-day moving average price of $15.99 and a 200 day moving average price of $16.28. The company has a quick ratio of 2.40, a current ratio of 3.16 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.06. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. During the same period in the prior year, the company posted $0.13 earnings per share.

Barrick Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.074 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.30 annualized dividend and a dividend yield of 1.77%. Barrick Gold’s dividend payout ratio is presently 55.56%.

Hedge Funds Weigh In On Barrick Gold

Several institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of Barrick Gold by 58.4% during the fourth quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock valued at $1,821,963,000 after buying an additional 37,128,653 shares during the period. Van ECK Associates Corp lifted its stake in shares of Barrick Gold by 9.7% during the fourth quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock valued at $1,464,070,000 after buying an additional 7,150,142 shares during the period. Vanguard Group Inc. lifted its stake in shares of Barrick Gold by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 63,671,495 shares of the gold and copper producer’s stock valued at $1,151,817,000 after buying an additional 1,103,710 shares during the period. Capital World Investors lifted its stake in shares of Barrick Gold by 16.4% during the fourth quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock valued at $821,790,000 after buying an additional 6,417,244 shares during the period. Finally, First Eagle Investment Management LLC lifted its stake in shares of Barrick Gold by 6.4% during the fourth quarter. First Eagle Investment Management LLC now owns 44,681,411 shares of the gold and copper producer’s stock valued at $808,287,000 after buying an additional 2,680,178 shares during the period. Hedge funds and other institutional investors own 62.85% of the company’s stock.

About Barrick Gold

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.