Cormark Issues Optimistic Forecast for Barrick Gold Earnings

Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX - Cormark boosted their Q1 2025 earnings per share (EPS) estimates for Barrick Gold in a report issued on Tuesday, April 22nd. Cormark analyst R. Gray now expects that the gold and copper producer will post earnings per share of $0.30 for the quarter, up from their prior estimate of $0.26. The consensus estimate for Barrick Gold's current full-year earnings is $1.47 per share.

Other analysts also recently issued research reports about the stock. Citigroup dropped their target price on shares of Barrick Gold from $21.00 to $17.00 and set a "neutral" rating for the company in a report on Monday, March 31st. StockNews.com raised shares of Barrick Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 5th. National Bankshares reiterated an "outperform" rating on shares of Barrick Gold in a research note on Wednesday, April 2nd. BMO Capital Markets began coverage on shares of Barrick Gold in a report on Wednesday, April 16th. They issued a "market perform" rating on the stock. Finally, Royal Bank of Canada lifted their price target on Barrick Gold from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Barrick Gold has an average rating of "Moderate Buy" and an average target price of $24.05.

Barrick Gold Trading Down 4.5 %

Shares of Barrick Gold stock opened at $19.07 on Thursday. The stock has a 50 day moving average of $18.90 and a 200 day moving average of $17.94. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. The firm has a market capitalization of $32.79 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 0.44 and a beta of 0.55. Barrick Gold has a fifty-two week low of $15.11 and a fifty-two week high of $21.35.

Barrick Gold (NYSE:GOLD - Get Free Report) 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 net margin of 16.59% and a return on equity of 6.76%.

Institutional Trading of Barrick Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in GOLD. Principal Financial Group Inc. boosted its stake in shares of Barrick Gold by 19.9% during the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Barrick Gold by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer's stock valued at $78,637,000 after acquiring an additional 128,203 shares during the last quarter. Crocodile Capital Partners GmbH boosted its stake in shares of Barrick Gold by 97.3% during the 4th quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer's stock worth $22,630,000 after acquiring an additional 720,000 shares in the last quarter. Legend Financial Advisors Inc. bought a new stake in shares of Barrick Gold during the 4th quarter worth $700,000. Finally, Gateway Investment Advisers LLC grew its position in shares of Barrick Gold by 6.9% in the fourth quarter. Gateway Investment Advisers LLC now owns 278,717 shares of the gold and copper producer's stock valued at $4,320,000 after purchasing an additional 17,980 shares during the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

Barrick Gold declared that its board has approved a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the gold and copper producer to purchase up to 3.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board of directors believes its shares are undervalued.

Barrick Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.10%. Barrick Gold's dividend payout ratio (DPR) is 32.52%.

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.

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