Zacks: Analysts Expect Barrick Gold Corporation (ABX) Will Announce Quarterly Sales of $2.09 Billion
Brokerages forecast that Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) will report $2.09 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Barrick Gold Corporation’s earnings, with the highest sales estimate coming in at $2.18 billion and the lowest estimate coming in at $2.01 billion. Barrick Gold Corporation posted sales of $2.30 billion in the same quarter last year, which would indicate a negative year over year growth rate of 9.1%. The business is expected to issue its next earnings results on Wednesday, October 25th.
On average, analysts expect that Barrick Gold Corporation will report full year sales of $2.09 billion for the current fiscal year, with estimates ranging from $8.31 billion to $8.79 billion. For the next year, analysts forecast that the business will report sales of $7.85 billion per share, with estimates ranging from $7.56 billion to $8.30 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Barrick Gold Corporation.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last released its earnings results on Wednesday, July 26th. The basic materials company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.05. Barrick Gold Corporation had a return on equity of 8.91% and a net margin of 26.95%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the company earned $0.14 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year.
A number of equities analysts have recently weighed in on ABX shares. BidaskClub upgraded Barrick Gold Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 31st. TD Securities reissued a “hold” rating on shares of Barrick Gold Corporation in a research note on Tuesday, June 27th. Royal Bank Of Canada reissued a “buy” rating and set a $21.00 target price on shares of Barrick Gold Corporation in a research note on Tuesday, July 18th. Deutsche Bank AG reissued a “buy” rating and set a $21.00 target price (down previously from $22.00) on shares of Barrick Gold Corporation in a research note on Sunday, June 25th. Finally, Barclays PLC reissued an “equal weight” rating and set a $20.00 target price (down previously from $22.00) on shares of Barrick Gold Corporation in a research note on Thursday, June 1st. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $20.59.
A number of hedge funds have recently bought and sold shares of the business. Afam Capital Inc. raised its position in Barrick Gold Corporation by 4.8% in the 2nd quarter. Afam Capital Inc. now owns 173,031 shares of the basic materials company’s stock valued at $2,753,000 after purchasing an additional 7,967 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Barrick Gold Corporation in the 2nd quarter valued at about $244,000. Koch Industries Inc. acquired a new stake in Barrick Gold Corporation in the 2nd quarter valued at about $268,000. Rockshelter Capital Management LLC raised its position in Barrick Gold Corporation by 7.8% in the 2nd quarter. Rockshelter Capital Management LLC now owns 57,110 shares of the basic materials company’s stock valued at $909,000 after purchasing an additional 4,140 shares in the last quarter. Finally, Capital Innovations LLC raised its position in Barrick Gold Corporation by 116.6% in the 2nd quarter. Capital Innovations LLC now owns 21,655 shares of the basic materials company’s stock valued at $344,000 after purchasing an additional 11,655 shares in the last quarter. 55.65% of the stock is currently owned by institutional investors.
Barrick Gold Corporation (NYSE ABX) traded up 0.67% during mid-day trading on Friday, hitting $18.11. The stock had a trading volume of 8,311,719 shares. Barrick Gold Corporation has a one year low of $13.81 and a one year high of $20.78. The firm’s 50-day moving average price is $16.80 and its 200 day moving average price is $17.39. The company has a market cap of $21.12 billion, a PE ratio of 8.97 and a beta of -0.29.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Tuesday, August 29th. Barrick Gold Corporation’s dividend payout ratio is currently 5.94%.
About Barrick Gold Corporation
Barrick Gold Corporation (Barrick) is a gold mining company. The Company is principally engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company’s segments include Goldstrike, Cortez, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Acacia Mining plc (Acacia), Pascua-Lama and Other Mines.
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