Research Analysts Offer Predictions for Barrick Gold Corp’s Q2 2022 Earnings (NYSE:GOLD)

Barrick Gold Corp (NYSE:GOLDGet Rating) (TSE:ABX) – Stock analysts at Raymond James boosted their Q2 2022 earnings per share estimates for shares of Barrick Gold in a report issued on Tuesday, April 19th. Raymond James analyst B. Macarthur now anticipates that the gold and copper producer will post earnings of $0.30 per share for the quarter, up from their previous estimate of $0.24. Raymond James currently has a “Outperform” rating and a $28.00 target price on the stock. Raymond James also issued estimates for Barrick Gold’s Q3 2022 earnings at $0.30 EPS, Q4 2022 earnings at $0.29 EPS, Q1 2023 earnings at $0.24 EPS, Q2 2023 earnings at $0.24 EPS, Q3 2023 earnings at $0.24 EPS, Q4 2023 earnings at $0.23 EPS and FY2023 earnings at $0.95 EPS.

A number of other equities research analysts have also commented on the stock. Jefferies Financial Group upped their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “hold” rating in a research note on Wednesday, March 9th. TD Securities lowered shares of Barrick Gold from an “action list buy” rating to a “buy” rating and set a $31.00 price objective on the stock. in a research note on Wednesday, April 13th. National Bank Financial upped their price objective on shares of Barrick Gold from C$29.00 to C$38.00 in a research note on Wednesday. Barclays increased their target price on shares of Barrick Gold from $26.00 to $28.00 in a research note on Thursday. Finally, Fundamental Research raised their price objective on shares of Barrick Gold from $26.00 to $26.45 and gave the company a “buy” rating in a research note on Tuesday, March 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $29.37.

Shares of NYSE GOLD opened at $25.25 on Thursday. The firm has a 50 day moving average price of $24.00 and a two-hundred day moving average price of $20.75. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.12 and a current ratio of 3.95. Barrick Gold has a 52-week low of $17.27 and a 52-week high of $26.07. The stock has a market cap of $44.93 billion, a P/E ratio of 22.15, a price-to-earnings-growth ratio of 10.52 and a beta of 0.25.

Barrick Gold (NYSE:GOLDGet Rating) (TSE:ABX) last announced its quarterly earnings results on Wednesday, February 16th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. Barrick Gold had a net margin of 16.87% and a return on equity of 6.42%. The firm had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same period in the prior year, the company posted $0.35 EPS. The company’s revenue was up 17.1% on a year-over-year basis.

Several institutional investors and hedge funds have recently bought and sold shares of GOLD. Capital World Investors increased its stake in shares of Barrick Gold by 13.0% in the third quarter. Capital World Investors now owns 64,790,052 shares of the gold and copper producer’s stock worth $1,169,470,000 after purchasing an additional 7,473,686 shares in the last quarter. Ruffer LLP boosted its position in shares of Barrick Gold by 286.2% in the fourth quarter. Ruffer LLP now owns 7,339,235 shares of the gold and copper producer’s stock valued at $136,496,000 after acquiring an additional 5,438,638 shares during the period. Van ECK Associates Corp boosted its position in shares of Barrick Gold by 6.1% in the fourth quarter. Van ECK Associates Corp now owns 88,939,006 shares of the gold and copper producer’s stock valued at $1,689,852,000 after acquiring an additional 5,107,044 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Barrick Gold by 154.8% in the third quarter. Dimensional Fund Advisors LP now owns 7,076,495 shares of the gold and copper producer’s stock valued at $127,703,000 after acquiring an additional 4,299,683 shares during the period. Finally, Marathon Asset Mgmt Ltd bought a new position in shares of Barrick Gold in the third quarter valued at approximately $63,980,000. Hedge funds and other institutional investors own 57.62% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Monday, February 28th were paid a $0.079 dividend. The ex-dividend date of this dividend was Friday, February 25th. This represents a $0.32 annualized dividend and a dividend yield of 1.25%. Barrick Gold’s payout ratio is 35.09%.

About Barrick Gold (Get Rating)

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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Earnings History and Estimates for Barrick Gold (NYSE:GOLD)

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