National Bank Financial Forecasts Barrick Gold Q3 Earnings

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Equities researchers at National Bank Financial issued their Q3 2024 earnings per share (EPS) estimates for shares of Barrick Gold in a research note issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin anticipates that the gold and copper producer will post earnings per share of $0.35 for the quarter. The consensus estimate for Barrick Gold’s current full-year earnings is $1.27 per share.

Other analysts also recently issued reports about the company. CIBC boosted their target price on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Raymond James decreased their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday, September 26th. Royal Bank of Canada boosted their target price on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Scotiabank boosted their target price on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, UBS Group boosted their target price on Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.60.

Barrick Gold Stock Down 1.9 %

GOLD opened at $20.80 on Thursday. The business’s fifty day moving average is $20.16 and its two-hundred day moving average is $18.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01. The company has a market cap of $36.45 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 0.47 and a beta of 0.55. Barrick Gold has a one year low of $13.76 and a one year high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm earned $0.19 EPS.

Hedge Funds Weigh In On Barrick Gold

Several institutional investors have recently added to or reduced their stakes in the business. Heritage Oak Wealth Advisors LLC acquired a new position in Barrick Gold in the third quarter valued at $264,000. apricus wealth LLC increased its stake in Barrick Gold by 0.6% in the third quarter. apricus wealth LLC now owns 112,850 shares of the gold and copper producer’s stock valued at $2,245,000 after purchasing an additional 710 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Barrick Gold by 458.1% in the third quarter. Assenagon Asset Management S.A. now owns 108,148 shares of the gold and copper producer’s stock valued at $2,151,000 after purchasing an additional 88,770 shares during the last quarter. Lafayette Investments Inc. increased its stake in Barrick Gold by 1.7% in the third quarter. Lafayette Investments Inc. now owns 349,052 shares of the gold and copper producer’s stock valued at $6,943,000 after purchasing an additional 5,712 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in Barrick Gold by 1,847.2% in the third quarter. International Assets Investment Management LLC now owns 430,459 shares of the gold and copper producer’s stock valued at $85,620,000 after purchasing an additional 408,352 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.10 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 1.92%. Barrick Gold’s payout ratio is currently 48.78%.

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.