Brokers Offer Predictions for Barrick Gold FY2025 Earnings

Barrick Gold Corp (NYSE:B) (TSE:ABX) – National Bank Financial lowered their FY2025 earnings estimates for Barrick Gold in a research note issued on Wednesday, May 14th. National Bank Financial analyst S. Nagle now anticipates that the gold and copper producer will post earnings per share of $1.74 for the year, down from their prior forecast of $1.75. National Bank Financial has a “Hold” rating on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $1.47 per share.

A number of other equities research analysts also recently issued reports on B. National Bankshares reiterated an “outperform” rating on shares of Barrick Gold in a research report on Wednesday, April 2nd. Royal Bank of Canada lifted their price target on shares of Barrick Gold from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. BMO Capital Markets assumed coverage on shares of Barrick Gold in a research report on Wednesday, April 16th. They set a “market perform” rating for the company. UBS Group lifted their price target on shares of Barrick Gold from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Finally, Bank of America downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price target for the company from $21.00 to $18.00 in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and an average target price of $24.05.

Barrick Gold Price Performance

B stock opened at $18.19 on Monday. The firm has a 50 day moving average of $19.04 and a 200-day moving average of $17.72. Barrick Gold has a 12-month low of $17.41 and a 12-month high of $47.50. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. The company has a market cap of $31.28 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 0.44 and a beta of 0.25.

Barrick Gold (NYSE:B) (TSE:ABX) last posted its quarterly earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period last year, the firm earned $0.19 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis.

Barrick Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.40 annualized dividend and a dividend yield of 2.20%. Barrick Gold’s dividend payout ratio is currently 30.08%.

Barrick Gold announced that its board has approved a stock buyback program on Wednesday, February 12th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the gold and copper producer to repurchase up to 3.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Barrick Gold

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Maryland State Retirement & Pension System grew its stake in Barrick Gold by 15.0% in the 1st quarter. Maryland State Retirement & Pension System now owns 535,002 shares of the gold and copper producer’s stock worth $10,385,000 after acquiring an additional 69,876 shares during the period. Headlands Technologies LLC purchased a new stake in Barrick Gold in the 1st quarter worth approximately $342,000. Charles Schwab Investment Management Inc. grew its stake in Barrick Gold by 1.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,144,340 shares of the gold and copper producer’s stock worth $99,867,000 after acquiring an additional 70,623 shares during the period. Nicholas Hoffman & Company LLC. grew its stake in Barrick Gold by 1.5% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer’s stock worth $924,000 after acquiring an additional 716 shares during the period. Finally, Lester Murray Antman dba SimplyRich purchased a new stake in Barrick Gold in the 1st quarter worth approximately $230,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

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.