Barrick Gold FY2024 EPS Reduced by National Bank Financial

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Equities researchers at National Bank Financial lowered their FY2024 earnings per share estimates for Barrick Gold in a research report issued on Wednesday, January 15th. National Bank Financial analyst M. Parkin now anticipates that the gold and copper producer will earn $1.33 per share for the year, down from their previous forecast of $1.46. The consensus estimate for Barrick Gold’s current full-year earnings is $1.27 per share. National Bank Financial also issued estimates for Barrick Gold’s FY2025 earnings at $1.80 EPS and FY2026 earnings at $1.90 EPS.

Other equities analysts have also recently issued reports about the stock. Raymond James decreased their price target on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Scotiabank lowered their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a report on Monday, November 25th. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Finally, 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. Four 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, Barrick Gold presently has an average rating of “Moderate Buy” and an average target price of $24.82.

Barrick Gold Price Performance

Shares of GOLD stock opened at $16.00 on Monday. Barrick Gold has a 52-week low of $13.76 and a 52-week high of $21.35. The firm’s 50 day moving average price is $16.52 and its two-hundred day moving average price is $18.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. The stock has a market cap of $27.62 billion, a PE ratio of 17.20, a PEG ratio of 0.28 and a beta of 0.54.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.50%. The ex-dividend date was Friday, November 29th. Barrick Gold’s dividend payout ratio is presently 43.01%.

Hedge Funds Weigh In On Barrick Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC raised its stake in Barrick Gold by 198.1% in the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after purchasing an additional 935 shares in the last quarter. Eastern Bank bought a new stake in shares of Barrick Gold in the 3rd quarter worth approximately $32,000. JFS Wealth Advisors LLC boosted its stake in shares of Barrick Gold by 451.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock valued at $38,000 after purchasing an additional 1,563 shares in the last quarter. AlphaMark Advisors LLC bought a new position in shares of Barrick Gold during the 3rd quarter valued at $60,000. Finally, BNP Paribas raised its position in Barrick Gold by 221.7% in the 3rd quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock worth $62,000 after purchasing an additional 2,113 shares during the period. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

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.