Barrick Gold Corp to Post FY2023 Earnings of $1.59 Per Share, National Bank Financial Forecasts (NYSE:GOLD)

Barrick Gold Corp (NYSE:GOLDGet Rating) (TSE:ABX) – Equities researchers at National Bank Financial lifted their FY2023 EPS estimates for Barrick Gold in a research note issued to investors on Tuesday, April 19th. National Bank Financial analyst M. Parkin now forecasts that the gold and copper producer will post earnings per share of $1.59 for the year, up from their previous estimate of $1.35.

Barrick Gold (NYSE:GOLDGet Rating) (TSE:ABX) last announced its quarterly earnings data on Wednesday, February 16th. The gold and copper producer reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The firm had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.20 billion. Barrick Gold had a net margin of 16.87% and a return on equity of 6.42%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 earnings per share.

Several other equities research analysts have also issued reports on the stock. Barclays increased their target price on shares of Barrick Gold from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday. Jefferies Financial Group upped their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “hold” rating in a research report on Wednesday, March 9th. Raymond James upped their price target on shares of Barrick Gold from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday. The Goldman Sachs Group downgraded shares of Barrick Gold from a “neutral” rating to a “sell” rating in a report on Monday, January 17th. Finally, Fundamental Research raised their price target on shares of Barrick Gold from $26.00 to $26.45 and gave the stock a “buy” rating in a report on Tuesday, March 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $29.37.

GOLD stock opened at $23.52 on Friday. The company’s 50-day simple moving average is $24.07 and its 200-day simple moving average is $20.79. The company has a quick ratio of 3.12, a current ratio of 3.95 and a debt-to-equity ratio of 0.16. Barrick Gold has a 52-week low of $17.27 and a 52-week high of $26.07. The firm has a market cap of $41.85 billion, a P/E ratio of 21.25, a PEG ratio of 10.52 and a beta of 0.25.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Monday, February 28th were issued a $0.079 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Friday, February 25th. Barrick Gold’s payout ratio is 35.09%.

Several large investors have recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its holdings in Barrick Gold by 5.5% during the third quarter. Commonwealth Equity Services LLC now owns 492,643 shares of the gold and copper producer’s stock worth $8,892,000 after buying an additional 25,589 shares in the last quarter. GWM Advisors LLC grew its position in shares of Barrick Gold by 55.8% in the third quarter. GWM Advisors LLC now owns 15,198 shares of the gold and copper producer’s stock valued at $274,000 after purchasing an additional 5,446 shares during the last quarter. Independent Advisor Alliance grew its position in shares of Barrick Gold by 13.0% in the third quarter. Independent Advisor Alliance now owns 52,098 shares of the gold and copper producer’s stock valued at $940,000 after purchasing an additional 5,982 shares during the last quarter. Asset Management One Co. Ltd. grew its position in shares of Barrick Gold by 121.5% in the third quarter. Asset Management One Co. Ltd. now owns 104,836 shares of the gold and copper producer’s stock valued at $1,892,000 after purchasing an additional 57,513 shares during the last quarter. Finally, Ninety One North America Inc. grew its position in shares of Barrick Gold by 1.9% in the third quarter. Ninety One North America Inc. now owns 108,138 shares of the gold and copper producer’s stock valued at $1,952,000 after purchasing an additional 2,065 shares during the last quarter. 57.62% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Company Profile (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.

Featured Articles

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

Receive News & Ratings for Barrick Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barrick Gold and related companies with MarketBeat.com's FREE daily email newsletter.