Q4 EPS Estimates for Barrick Gold Cut by Raymond James

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Investment analysts at Raymond James cut their Q4 2024 EPS estimates for shares of Barrick Gold in a research report issued on Sunday, November 10th. Raymond James analyst B. Macarthur now anticipates that the gold and copper producer will earn $0.44 per share for the quarter, down from their prior estimate of $0.46. Raymond James currently has a “Outperform” rating and a $26.00 price target on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $1.29 per share. Raymond James also issued estimates for Barrick Gold’s Q1 2025 earnings at $0.41 EPS, Q2 2025 earnings at $0.43 EPS, Q3 2025 earnings at $0.44 EPS, Q4 2025 earnings at $0.45 EPS and FY2025 earnings at $1.72 EPS.

A number of other equities analysts have also commented on GOLD. TD Securities cut their price objective on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, November 8th. 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, November 8th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, August 29th. Royal Bank of Canada lifted their price objective on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group upped their target price on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.90.

Barrick Gold Stock Down 1.2 %

GOLD stock opened at $16.81 on Wednesday. The stock has a 50-day simple moving average of $19.84 and a two-hundred day simple moving average of $18.49. Barrick Gold has a twelve month low of $13.76 and a twelve month high of $21.35. The firm has a market capitalization of $29.38 billion, a PE ratio of 18.10, a PEG ratio of 0.40 and a beta of 0.56. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a return on equity of 5.82% and a net margin of 13.19%. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the company earned $0.19 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis.

Hedge Funds Weigh In On Barrick Gold

Several institutional investors and hedge funds have recently made changes to their positions in GOLD. First Eagle Investment Management LLC boosted its position in Barrick Gold by 31.6% during the first quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock valued at $978,766,000 after buying an additional 14,138,639 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Barrick Gold by 221.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock valued at $199,427,000 after acquiring an additional 6,904,934 shares during the period. EdgePoint Investment Group Inc. grew its position in Barrick Gold by 38.8% during the 1st quarter. EdgePoint Investment Group Inc. now owns 18,170,814 shares of the gold and copper producer’s stock worth $302,366,000 after acquiring an additional 5,080,510 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Barrick Gold by 4,713.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,144,456 shares of the gold and copper producer’s stock worth $69,141,000 after purchasing an additional 4,058,351 shares during the period. Finally, Letko Brosseau & Associates Inc. bought a new stake in Barrick Gold in the second quarter valued at approximately $66,820,000. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.38%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio is currently 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.