Cormark Comments on Barrick Gold's Q4 Earnings (NYSE:GOLD)

Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX - Research analysts at Cormark raised their Q4 2024 earnings estimates for shares of Barrick Gold in a research note issued on Friday, November 8th. Cormark analyst R. Gray now forecasts that the gold and copper producer will post earnings per share of $0.39 for the quarter, up from their prior forecast of $0.36. The consensus estimate for Barrick Gold's current full-year earnings is $1.29 per share. Cormark also issued estimates for Barrick Gold's FY2025 earnings at $1.81 EPS and FY2026 earnings at $2.06 EPS.

A number of other research analysts also recently weighed in on GOLD. Argus upgraded Barrick Gold from a "hold" rating to a "buy" rating and set a $24.00 target price on the stock in a report on Thursday, August 29th. Royal Bank of Canada increased their price objective on Barrick Gold from $21.00 to $22.00 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. Raymond James dropped their target price on shares of Barrick Gold from $26.50 to $26.00 and set an "outperform" rating on the stock in a report on Thursday, September 26th. Jefferies Financial Group upped their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Friday, September 13th. Finally, UBS Group cut shares of Barrick Gold from a "buy" rating to a "neutral" rating and lowered their price target for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $23.90.

Barrick Gold Trading Down 5.4 %

NYSE GOLD traded down $1.00 on Monday, hitting $17.40. The company's stock had a trading volume of 35,701,114 shares, compared to its average volume of 21,240,928. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15. Barrick Gold has a 52-week low of $13.76 and a 52-week high of $21.35. The firm has a market cap of $30.42 billion, a P/E ratio of 18.71, a PEG ratio of 0.43 and a beta of 0.56. The company's 50-day simple moving average is $19.95 and its 200 day simple moving average is $18.49.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last released its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.05. The firm had revenue of $3.16 billion for the quarter, compared to analysts' expectations of $3.13 billion. Barrick Gold had a net margin of 13.19% and a return on equity of 5.85%. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 earnings per share.

Barrick Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold's dividend payout ratio is presently 43.01%.

Institutional Investors Weigh In On Barrick Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its holdings in Barrick Gold by 198.1% during 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 acquiring an additional 935 shares during the period. Clean Yield Group purchased a new stake in Barrick Gold during the 1st quarter valued at approximately $25,000. Eastern Bank bought a new stake in shares of Barrick Gold during the third quarter valued at approximately $32,000. Crewe Advisors LLC lifted its holdings in shares of Barrick Gold by 628.8% in the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer's stock worth $30,000 after buying an additional 1,572 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its position in shares of Barrick Gold by 451.7% during the third quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer's stock worth $38,000 after acquiring an additional 1,563 shares during the last quarter. 62.85% of the stock is 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.