Stifel Canada Decreases Earnings Estimates for Barrick Gold

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Equities researchers at Stifel Canada dropped their Q4 2024 EPS estimates for shares of Barrick Gold in a note issued to investors on Tuesday, February 4th. Stifel Canada analyst I. Rico now forecasts that the gold and copper producer will earn $0.41 per share for the quarter, down from their prior forecast of $0.53. The consensus estimate for Barrick Gold’s current full-year earnings is $1.25 per share. Stifel Canada also issued estimates for Barrick Gold’s FY2026 earnings at $1.55 EPS.

A number of other analysts have also recently commented on the company. Bank of America cut Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $21.00 to $18.00 in a research report on Monday, January 27th. Cibc World Mkts cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. UBS Group lowered 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. Scotiabank downgraded shares of Barrick Gold from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $23.00 to $19.00 in a research report on Thursday, January 30th. Finally, TD Securities reduced their price objective on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.92.

Barrick Gold Trading Up 0.2 %

NYSE:GOLD opened at $17.19 on Thursday. Barrick Gold has a one year low of $13.76 and a one year high of $21.35. The company’s 50-day simple moving average is $16.21 and its 200 day simple moving average is $18.19. The firm has a market capitalization of $29.69 billion, a P/E ratio of 18.48, a PEG ratio of 0.36 and a beta of 0.55. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06.

Hedge Funds Weigh In On Barrick Gold

A number of institutional investors and hedge funds have recently made changes to their positions in GOLD. Principal Financial Group Inc. raised its position in Barrick Gold by 19.9% in the third quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock worth $9,630,000 after acquiring an additional 80,366 shares during the period. Mizuho Markets Americas LLC raised its holdings in Barrick Gold by 21.7% in the 3rd quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer’s stock worth $46,097,000 after purchasing an additional 413,012 shares during the period. Entropy Technologies LP purchased a new position in Barrick Gold during the third quarter valued at $3,711,000. Aigen Investment Management LP grew its holdings in Barrick Gold by 330.5% during the third quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock valued at $1,974,000 after purchasing an additional 76,186 shares during the period. Finally, Crocodile Capital Partners GmbH increased its position in Barrick Gold by 97.3% in the fourth quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer’s stock worth $22,630,000 after buying an additional 720,000 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.