Stifel Canada Forecasts Barrick Gold FY2028 Earnings

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Research analysts at Stifel Canada issued their FY2028 earnings per share (EPS) estimates for shares of Barrick Gold in a report released on Wednesday, March 19th. Stifel Canada analyst R. Profiti forecasts that the gold and copper producer will earn $1.44 per share for the year. Stifel Canada currently has a “Strong-Buy” rating on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $1.47 per share.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%.

Other equities analysts have also issued reports about the company. UBS Group upgraded Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Wednesday, March 5th. Raymond James reduced their price target on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Bank of America lowered Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $21.00 to $18.00 in a research report on Monday, January 27th. TD Securities reduced their price target on Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.75.

Barrick Gold Price Performance

GOLD opened at $19.28 on Thursday. The stock’s 50 day simple moving average is $17.44 and its 200 day simple moving average is $18.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. Barrick Gold has a 1 year low of $0.25 and a 1 year high of $21.35. The firm has a market cap of $33.26 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 0.44 and a beta of 0.58.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold’s payout ratio is presently 32.52%.

Barrick Gold declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the gold and copper producer to reacquire up to 3.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp lifted its stake in shares of Barrick Gold by 2.1% in the 4th quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer’s stock valued at $1,182,641,000 after purchasing an additional 1,563,361 shares during the period. Vanguard Group Inc. lifted its stake in shares of Barrick Gold by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 68,358,533 shares of the gold and copper producer’s stock valued at $1,060,036,000 after purchasing an additional 1,195,585 shares during the period. Wellington Management Group LLP lifted its stake in shares of Barrick Gold by 17.5% in the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer’s stock valued at $996,802,000 after purchasing an additional 9,598,292 shares during the period. Capital International Investors lifted its stake in shares of Barrick Gold by 136.1% in the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer’s stock valued at $516,055,000 after purchasing an additional 19,189,830 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in shares of Barrick Gold by 1.9% in the 4th quarter. Mackenzie Financial Corp now owns 15,318,376 shares of the gold and copper producer’s stock valued at $237,280,000 after purchasing an additional 278,292 shares during the period. Hedge funds and other 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.