FY2024 EPS Estimates for Barrick Gold Decreased by Analyst

Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX - Analysts at Raymond James decreased their FY2024 earnings per share (EPS) estimates for shares of Barrick Gold in a research report issued on Thursday, January 9th. Raymond James analyst B. Macarthur now forecasts that the gold and copper producer will earn $1.20 per share for the year, down from their prior estimate of $1.22. Raymond James has a "Outperform" rating and a $25.00 price objective 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.

Other equities research analysts also recently issued reports about the stock. TD Securities lowered their price target on shares of Barrick Gold from $26.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, November 26th. Cibc World Mkts cut shares of Barrick Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 25th. Scotiabank reduced their price target on Barrick Gold from $24.00 to $23.00 and set a "sector outperform" rating on the stock in a research note on Monday, November 25th. UBS Group downgraded Barrick Gold from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Finally, Citigroup reduced their target price 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. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.82.

Barrick Gold Trading Down 0.8 %

Barrick Gold stock opened at $15.72 on Monday. The stock has a 50-day moving average price of $16.81 and a 200 day moving average price of $18.41. Barrick Gold has a 52 week low of $13.76 and a 52 week high of $21.35. The stock has a market cap of $27.37 billion, a PE ratio of 16.90, 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Friday, November 29th. Barrick Gold's payout ratio is currently 43.01%.

Hedge Funds Weigh In On Barrick Gold

Several hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. boosted its position in shares of Barrick Gold by 3.4% in the second quarter. American Century Companies Inc. now owns 1,939,502 shares of the gold and copper producer's stock worth $32,351,000 after buying an additional 63,144 shares during the period. Rathbones Group PLC raised its stake in shares of Barrick Gold by 16.6% during the second quarter. Rathbones Group PLC now owns 152,937 shares of the gold and copper producer's stock valued at $2,551,000 after purchasing an additional 21,790 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Barrick Gold by 16.5% in the second quarter. Dimensional Fund Advisors LP now owns 7,471,407 shares of the gold and copper producer's stock valued at $124,635,000 after purchasing an additional 1,057,886 shares during the period. Moors & Cabot Inc. grew its holdings in Barrick Gold by 11.6% during the 2nd quarter. Moors & Cabot Inc. now owns 63,506 shares of the gold and copper producer's stock valued at $1,059,000 after purchasing an additional 6,605 shares in the last quarter. Finally, Plancorp LLC boosted its position in Barrick Gold by 23.8% in the 2nd quarter. Plancorp LLC now owns 273,027 shares of the gold and copper producer's stock valued at $4,554,000 after buying an additional 52,434 shares during the last quarter. Institutional investors and hedge funds 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.