Barrick Gold Corp (NYSE:GOLD) Forecasted to Earn Q2 2024 Earnings of $0.25 Per Share

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Cormark boosted their Q2 2024 EPS estimates for shares of Barrick Gold in a research report issued to clients and investors on Thursday, May 2nd. Cormark analyst R. Gray now anticipates that the gold and copper producer will post earnings per share of $0.25 for the quarter, up from their previous estimate of $0.17. The consensus estimate for Barrick Gold’s current full-year earnings is $0.95 per share. Cormark also issued estimates for Barrick Gold’s Q3 2024 earnings at $0.25 EPS.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Barrick Gold had a return on equity of 4.89% and a net margin of 12.58%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 EPS.

Several other research firms have also commented on GOLD. Sanford C. Bernstein lowered shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th. Raymond James lowered their target price on Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Argus restated a “hold” rating on shares of Barrick Gold in a research report on Monday, February 26th. CIBC decreased their price target on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Finally, StockNews.com raised Barrick Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.60.

Barrick Gold Stock Down 0.5 %

Shares of NYSE GOLD opened at $16.46 on Monday. The stock has a market capitalization of $28.90 billion, a P/E ratio of 20.07, a PEG ratio of 1.44 and a beta of 0.59. Barrick Gold has a one year low of $13.76 and a one year high of $20.75. The firm’s 50 day simple moving average is $16.34 and its two-hundred day simple moving average is $16.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.16 and a quick ratio of 2.40.

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be paid a $0.10 dividend. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a yield of 2.43%. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

Institutional Trading of Barrick Gold

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GOLD. Wellington Management Group LLP lifted 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 worth $1,821,963,000 after acquiring an additional 37,128,653 shares during the period. Van ECK Associates Corp raised its holdings in Barrick Gold by 9.7% in the fourth quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock worth $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% in 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 purchasing an additional 6,417,244 shares in the last quarter. Ruffer LLP raised its holdings in 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 worth $173,727,000 after purchasing an additional 6,385,566 shares in the last quarter. Finally, FMR LLC raised its holdings in Barrick Gold by 12.2% in the third quarter. FMR LLC now owns 43,399,480 shares of the gold and copper producer’s stock worth $631,228,000 after purchasing an additional 4,731,559 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.