Barrick Gold Corp (NYSE:GOLD – Free Report) (TSE:ABX) – Equities researchers at National Bank Financial issued their Q2 2024 earnings estimates for shares of Barrick Gold in a research report issued to clients and investors on Tuesday, July 16th. National Bank Financial analyst M. Parkin forecasts that the gold and copper producer will post earnings per share of $0.30 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 $1.11 per share. National Bank Financial also issued estimates for Barrick Gold’s FY2024 earnings at $1.24 EPS and FY2025 earnings at $1.46 EPS.
Several other equities research analysts have also recently weighed in on GOLD. BMO Capital Markets decreased their price target on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. CIBC upped their target price on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Finally, Jefferies Financial Group raised their price target on shares of Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Barrick Gold currently has a consensus rating of “Moderate Buy” and an average price target of $22.20.
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Barrick Gold Stock Down 1.8 %
Shares of NYSE:GOLD opened at $18.54 on Thursday. The firm has a market cap of $32.50 billion, a P/E ratio of 22.61, a P/E/G ratio of 0.53 and a beta of 0.51. Barrick Gold has a 12-month low of $13.76 and a 12-month high of $19.45. The business has a fifty day simple moving average of $17.14 and a 200 day simple moving average of $16.48. The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15.
Barrick Gold (NYSE:GOLD – Get Free Report) (TSE:ABX) last released its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the firm earned $0.14 earnings per share. The company’s revenue for the quarter was up 3.9% on a year-over-year basis.
Barrick Gold Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were paid a $0.10 dividend. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Friday, May 31st. Barrick Gold’s payout ratio is 48.78%.
Institutional Trading of Barrick Gold
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in Barrick Gold by 58.4% in the fourth quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock valued at $1,821,963,000 after acquiring an additional 37,128,653 shares during the period. First Eagle Investment Management LLC grew its position in Barrick Gold by 31.6% in the 1st quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock valued at $978,766,000 after purchasing an additional 14,138,639 shares during the period. Van ECK Associates Corp increased its stake in Barrick Gold by 9.7% during the 4th quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock valued at $1,464,070,000 after purchasing an additional 7,150,142 shares in the last quarter. Capital World Investors raised its holdings in Barrick Gold by 16.4% during the fourth quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock worth $821,790,000 after buying an additional 6,417,244 shares during the last quarter. Finally, Ruffer LLP lifted its stake in shares of Barrick Gold by 198.3% in the fourth quarter. Ruffer LLP now owns 9,606,218 shares of the gold and copper producer’s stock valued at $173,727,000 after buying an additional 6,385,566 shares in the last quarter. 62.85% of the stock is owned by 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.
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