Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX - Equities researchers at Scotiabank raised their FY2024 earnings estimates for shares of Barrick Gold in a research report issued on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the gold and copper producer will post earnings per share of $1.15 for the year, up from their previous estimate of $1.11. Scotiabank currently has a "Sector Outperform" rating and a $23.00 target price on the stock. The consensus estimate for Barrick Gold's current full-year earnings is $1.28 per share. Scotiabank also issued estimates for Barrick Gold's FY2025 earnings at $1.50 EPS and FY2026 earnings at $1.46 EPS.
GOLD has been the topic of a number of other reports. Jefferies Financial Group increased 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. CIBC downgraded shares of Barrick Gold from a "sector outperform" rating to a "neutral" rating in a report on Monday, November 25th. Raymond James decreased their price objective on shares of Barrick Gold from $26.00 to $25.00 and set an "outperform" rating for the company in a report on Monday, November 25th. Cibc World Mkts cut shares of Barrick Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, November 25th. Finally, TD Securities decreased their target price 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. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $24.82.
Read Our Latest Research Report on Barrick Gold
Barrick Gold Stock Up 1.8 %
GOLD traded up $0.28 during trading on Thursday, reaching $15.85. The stock had a trading volume of 23,658,300 shares, compared to its average volume of 15,977,271. The stock's 50 day moving average is $16.88 and its two-hundred day moving average is $18.39. The company has a market capitalization of $27.60 billion, a price-to-earnings ratio of 17.04, a P/E/G ratio of 0.47 and a beta of 0.54. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. Barrick Gold has a one year low of $13.76 and a one year high of $21.35.
Barrick Gold Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.52%. Barrick Gold's payout ratio is currently 43.01%.
Institutional Trading of Barrick Gold
Hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in Barrick Gold by 2.7% during 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 in the last quarter. EdgePoint Investment Group Inc. boosted its position in shares of Barrick Gold by 3.7% during the second quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer's stock worth $314,254,000 after acquiring an additional 666,214 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Barrick Gold by 33.3% during the third quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer's stock valued at $227,524,000 after acquiring an additional 2,854,055 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased 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 valued at $199,427,000 after acquiring an additional 6,904,934 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Barrick Gold by 9.5% in the 3rd quarter. Geode Capital Management LLC now owns 8,047,255 shares of the gold and copper producer's stock worth $162,140,000 after purchasing an additional 696,556 shares in the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.
About Barrick Gold
(
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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.
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