What is Cormark’s Forecast for Barrick Gold Q4 Earnings?

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Cormark raised their Q4 2024 earnings per share estimates for shares of Barrick Gold in a note issued to investors on Friday, November 8th. Cormark analyst R. Gray now forecasts that the gold and copper producer will earn $0.39 per share for the quarter, up from their previous estimate of $0.36. The consensus estimate for Barrick Gold’s current full-year earnings is $1.29 per share. Cormark also issued estimates for Barrick Gold’s FY2025 earnings at $1.81 EPS and FY2026 earnings at $2.06 EPS.

A number of other analysts have also recently commented on the company. Raymond James lowered their price target on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, August 29th. Scotiabank reduced their price target on shares of Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a research report on Friday. Jefferies Financial Group upped their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 13th. Finally, UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.90.

Barrick Gold Price Performance

Shares of GOLD opened at $17.40 on Monday. The company has a 50 day moving average of $19.95 and a two-hundred day moving average of $18.49. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.15. Barrick Gold has a twelve month low of $13.76 and a twelve month high of $21.35. The company has a market cap of $30.42 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 0.43 and a beta of 0.56.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a return on equity of 5.85% and a net margin of 13.19%. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the business posted $0.19 EPS. The business’s revenue was up 11.6% compared to the same quarter last year.

Hedge Funds Weigh In On Barrick Gold

Several large investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC raised its holdings in Barrick Gold by 24.6% during the first quarter. Janney Montgomery Scott LLC now owns 135,618 shares of the gold and copper producer’s stock worth $2,257,000 after purchasing an additional 26,752 shares in the last quarter. Empowered Funds LLC acquired a new stake in Barrick Gold during the 1st quarter worth $2,351,000. Forsta AP Fonden lifted its position in Barrick Gold by 14.6% in the first quarter. Forsta AP Fonden now owns 367,044 shares of the gold and copper producer’s stock valued at $6,111,000 after acquiring an additional 46,800 shares during the last quarter. Sei Investments Co. boosted its stake in Barrick Gold by 9.5% in the first quarter. Sei Investments Co. now owns 685,876 shares of the gold and copper producer’s stock valued at $11,413,000 after acquiring an additional 59,456 shares in the last quarter. Finally, Headlands Technologies LLC grew its holdings in shares of Barrick Gold by 56.2% during the first quarter. Headlands Technologies LLC now owns 18,730 shares of the gold and copper producer’s stock worth $312,000 after purchasing an additional 6,740 shares during the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio is presently 43.01%.

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.