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

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 note issued on Thursday, April 18th. National Bank Financial analyst M. Parkin forecasts 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.

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

GOLD has been the subject of a number of other reports. Raymond James lowered their price target on Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. TD Securities cut their price target on shares of Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. CIBC reduced their price target on shares of Barrick Gold from $27.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $18.00 price objective on shares of Barrick Gold in a report on Monday, March 4th. Finally, Jefferies Financial Group started coverage on Barrick Gold in a report on Thursday, February 29th. They issued a “buy” rating and a $21.00 target price for the company. 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 stock. According to data from MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.06.

Barrick Gold Price Performance

Barrick Gold stock opened at $16.42 on Monday. The company has a current ratio of 3.16, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $15.94 and a 200-day simple moving average of $16.27. The stock has a market cap of $28.83 billion, a P/E ratio of 22.81, a price-to-earnings-growth ratio of 1.59 and a beta of 0.58. Barrick Gold has a 12-month low of $13.76 and a 12-month high of $20.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GOLD. Principal Securities Inc. acquired a new position in shares of Barrick Gold during the 4th quarter worth $26,000. EverSource Wealth Advisors LLC raised its position in Barrick Gold by 175.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after acquiring an additional 1,143 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of Barrick Gold in the fourth quarter valued at about $35,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Barrick Gold in the fourth quarter valued at approximately $45,000. Finally, Optiver Holding B.V. purchased a new position in shares of Barrick Gold during the 4th quarter worth approximately $46,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.074 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.80%. 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.