Analysts Offer Predictions for Barrick Gold FY2024 Earnings

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Analysts at Scotiabank increased their FY2024 earnings per share estimates for Barrick Gold in a research report issued on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now forecasts that the gold and copper producer will post earnings per share of $1.15 for the year, up from their prior forecast of $1.11. Scotiabank currently has a “Sector Outperform” rating and a $23.00 target price on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $1.28 per share. Scotiabank also issued estimates for Barrick Gold’s FY2025 earnings at $1.50 EPS and FY2026 earnings at $1.46 EPS.

Several other equities research analysts have also commented on the stock. Jefferies Financial Group increased their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. TD Securities dropped their price target on Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. UBS Group downgraded Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. Raymond James lowered their target price on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. Finally, Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.82.

Barrick Gold Stock Performance

NYSE GOLD opened at $15.85 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. The company has a fifty day moving average price of $16.95 and a 200-day moving average price of $18.41. Barrick Gold has a 1 year low of $13.76 and a 1 year high of $21.35. The firm has a market cap of $27.60 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 0.47 and a beta of 0.54.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.52%. Barrick Gold’s dividend payout ratio is currently 43.01%.

Hedge Funds Weigh In On Barrick Gold

Hedge funds have recently modified their holdings of the company. Natixis Advisors LLC raised its position in shares of Barrick Gold by 14.2% in the 2nd quarter. Natixis Advisors LLC now owns 76,218 shares of the gold and copper producer’s stock worth $1,271,000 after acquiring an additional 9,455 shares in the last quarter. Acadian Asset Management LLC lifted its position in Barrick Gold by 353.1% during the second quarter. Acadian Asset Management LLC now owns 215,200 shares of the gold and copper producer’s stock valued at $3,585,000 after buying an additional 167,700 shares during the period. AGF Management Ltd. boosted its holdings in shares of Barrick Gold by 5.5% during the 2nd quarter. AGF Management Ltd. now owns 124,782 shares of the gold and copper producer’s stock valued at $2,295,000 after buying an additional 6,480 shares in the last quarter. American Century Companies Inc. grew its position in shares of Barrick Gold by 3.4% in the 2nd quarter. American Century Companies Inc. now owns 1,939,502 shares of the gold and copper producer’s stock worth $32,351,000 after buying an additional 63,144 shares during the period. Finally, Achmea Investment Management B.V. increased its stake in shares of Barrick Gold by 128.9% in the 2nd quarter. Achmea Investment Management B.V. now owns 189,383 shares of the gold and copper producer’s stock worth $3,158,000 after acquiring an additional 106,630 shares in the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

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.