Analysts Offer Predictions for Barrick Gold FY2024 Earnings

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Analysts at Raymond James lowered their FY2024 EPS estimates for Barrick Gold in a note issued to investors on Thursday, January 9th. Raymond James analyst B. Macarthur now anticipates that the gold and copper producer will post earnings per share of $1.20 for the year, down from their prior estimate of $1.22. Raymond James currently has a “Outperform” rating and a $25.00 target price on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $1.28 per share. Raymond James also issued estimates for Barrick Gold’s Q4 2024 earnings at $0.39 EPS, Q1 2025 earnings at $0.33 EPS, Q2 2025 earnings at $0.30 EPS, Q3 2025 earnings at $0.35 EPS, Q4 2025 earnings at $0.37 EPS and FY2025 earnings at $1.39 EPS.

Several other research firms have also commented on GOLD. Berenberg Bank lifted their price target on shares of Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. TD Securities lowered their target price on Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Citigroup cut their target price on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Finally, UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.82.

Barrick Gold Stock Performance

Shares of GOLD opened at $15.72 on Monday. The business’s fifty day moving average price is $16.81 and its 200 day moving average price is $18.41. Barrick Gold has a 12-month low of $13.76 and a 12-month high of $21.35. The stock has a market capitalization of $27.37 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 0.47 and a beta of 0.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06.

Institutional Investors Weigh In On Barrick Gold

A number of large investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Barrick Gold by 221.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock worth $199,427,000 after purchasing an additional 6,904,934 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Barrick Gold by 4,713.3% in the second 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. The Manufacturers Life Insurance Company lifted its position in shares of Barrick Gold by 33.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock worth $227,524,000 after purchasing an additional 2,854,055 shares during the last quarter. Wellington Management Group LLP grew its holdings in Barrick Gold by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock valued at $1,088,484,000 after buying an additional 1,458,084 shares during the last quarter. Finally, Sound Shore Management Inc. CT increased its position in Barrick Gold by 48.2% in the 2nd quarter. Sound Shore Management Inc. CT now owns 4,455,551 shares of the gold and copper producer’s stock worth $74,319,000 after buying an additional 1,449,862 shares during the period. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

About Barrick Gold

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.