Q2 2024 EPS Estimates for Barrick Gold Corp Raised by Analyst (NYSE:GOLD)

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Investment analysts at Zacks Research increased their Q2 2024 EPS estimates for shares of Barrick Gold in a report released on Wednesday, May 22nd. Zacks Research analyst A. Barman now forecasts that the gold and copper producer will post earnings of $0.22 per share for the quarter, up from their prior estimate of $0.19. The consensus estimate for Barrick Gold’s current full-year earnings is $1.01 per share. Zacks Research also issued estimates for Barrick Gold’s Q3 2024 earnings at $0.23 EPS, Q4 2024 earnings at $0.24 EPS, FY2024 earnings at $0.87 EPS, Q2 2025 earnings at $0.29 EPS, Q3 2025 earnings at $0.27 EPS, Q4 2025 earnings at $0.37 EPS and FY2025 earnings at $1.12 EPS.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the previous year, the business posted $0.14 EPS. Barrick Gold’s quarterly revenue was up 3.9% on a year-over-year basis.

A number of other equities analysts also recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 price target on shares of Barrick Gold in a report on Monday, March 4th. 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 report on Friday, February 16th. Argus reaffirmed a “hold” rating on shares of Barrick Gold in a report on Monday, February 26th. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Finally, Raymond James dropped their price objective on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.60.

Barrick Gold Price Performance

Shares of NYSE:GOLD opened at $16.94 on Friday. The company’s 50-day moving average is $16.86 and its 200 day moving average is $16.43. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32. The company has a market capitalization of $29.74 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 0.45 and a beta of 0.59. Barrick Gold has a fifty-two week low of $13.76 and a fifty-two week high of $18.95.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GOLD. Principal Securities Inc. bought a new position in shares of Barrick Gold in the fourth quarter worth approximately $26,000. EverSource Wealth Advisors LLC lifted its stake in Barrick Gold by 175.6% in 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 period. Bruce G. Allen Investments LLC purchased a new stake in Barrick Gold in the fourth quarter worth $35,000. LRI Investments LLC purchased a new stake in Barrick Gold in the first quarter worth $37,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in Barrick Gold in the fourth quarter worth $45,000. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a dividend of $0.10 per share. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Friday, May 31st. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

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.