Barrick Gold Corp to Post Q1 2024 Earnings of $0.17 Per Share, Raymond James Forecasts (NYSE:GOLD)

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Equities research analysts at Raymond James dropped their Q1 2024 earnings estimates for shares of Barrick Gold in a report issued on Tuesday, April 16th. Raymond James analyst B. Macarthur now forecasts that the gold and copper producer will post earnings of $0.17 per share for the quarter, down from their previous estimate of $0.22. Raymond James currently has a “Outperform” rating and a $23.00 target price on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $0.90 per share. Raymond James also issued estimates for Barrick Gold’s Q2 2024 earnings at $0.21 EPS, Q3 2024 earnings at $0.21 EPS, Q4 2024 earnings at $0.22 EPS and FY2024 earnings at $0.81 EPS.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 EPS for the quarter, beating the consensus estimate of $0.21 by $0.06. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the business earned $0.13 earnings per share.

A number of other research firms also recently weighed in on GOLD. StockNews.com upgraded Barrick Gold from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. CIBC decreased their price target 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. Scotiabank cut their price objective on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research report on Tuesday, February 20th. Jefferies Financial Group began coverage on Barrick Gold in a report on Thursday, February 29th. They issued a “buy” rating and a $21.00 target price on the stock. Finally, Argus reiterated a “hold” rating on shares of Barrick Gold in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.48.

Barrick Gold Stock Up 0.6 %

Barrick Gold stock opened at $17.09 on Thursday. The company’s 50-day moving average price is $15.91 and its two-hundred day moving average price is $16.23. The stock has a market cap of $30.00 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 1.54 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 company has a current ratio of 3.16, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Principal Securities Inc. bought a new stake in Barrick Gold during the 4th quarter valued at approximately $26,000. Fairfield Bush & CO. acquired a new stake in Barrick Gold during the second quarter worth about $29,000. EverSource Wealth Advisors LLC raised its holdings in Barrick Gold by 175.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock valued at $32,000 after acquiring an additional 1,143 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Barrick Gold in the 4th quarter worth approximately $35,000. Finally, Resurgent Financial Advisors LLC acquired a new stake in shares of Barrick Gold during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.074 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.30 annualized dividend and a yield of 1.73%. Barrick Gold’s dividend payout ratio (DPR) is presently 55.56%.

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.