Stifel Canada Estimates Barrick Gold FY2028 Earnings

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Investment analysts at Stifel Canada issued their FY2028 earnings per share (EPS) estimates for shares of Barrick Gold in a research note issued on Wednesday, March 19th. Stifel Canada analyst R. Profiti forecasts that the gold and copper producer will earn $1.44 per share for the year. Stifel Canada has a “Strong-Buy” rating on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $1.47 per share.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%.

A number of other brokerages have also recently commented on GOLD. UBS Group raised Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Wednesday, March 5th. Cibc World Mkts cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. CIBC cut Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Scotiabank upped their price target on Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 18th. Finally, Citigroup dropped their price target on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.75.

Barrick Gold Stock Down 0.6 %

Shares of NYSE:GOLD opened at $19.28 on Thursday. Barrick Gold has a 1 year low of $0.25 and a 1 year high of $21.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. The business has a fifty day moving average price of $17.44 and a two-hundred day moving average price of $18.06. The company has a market capitalization of $33.26 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.08%. Barrick Gold’s payout ratio is currently 32.52%.

Barrick Gold declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the gold and copper producer to repurchase up to 3.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Barrick Gold

Several institutional investors and hedge funds have recently modified their holdings of the business. Chancellor Financial Group WB LP purchased a new stake in shares of Barrick Gold in the 4th quarter valued at about $298,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Barrick Gold by 14.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer’s stock valued at $1,141,000 after acquiring an additional 9,149 shares in the last quarter. PKO Investment Management Joint Stock Co purchased a new stake in shares of Barrick Gold in the 4th quarter valued at about $12,181,000. Aegis Wealth Management LLC purchased a new stake in shares of Barrick Gold in the 4th quarter valued at about $186,000. Finally, Comprehensive Money Management Services LLC purchased a new stake in shares of Barrick Gold in the 4th quarter valued at about $673,000. 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.