Scotiabank Brokers Cut Earnings Estimates for Barrick Gold

Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX - Stock analysts at Scotiabank decreased their FY2025 earnings per share estimates for shares of Barrick Gold in a note issued to investors on Wednesday, March 19th. Scotiabank analyst T. Jakusconek now expects that the gold and copper producer will post earnings per share of $1.00 for the year, down from their prior estimate of $1.50. Scotiabank currently has a "Sector Perform" rating and a $20.00 price target on the stock. The consensus estimate for Barrick Gold's current full-year earnings is $1.47 per share. Scotiabank also issued estimates for Barrick Gold's FY2026 earnings at $1.05 EPS.

GOLD has been the topic of several other reports. TD Securities decreased their price target on shares of Barrick Gold from $24.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Stifel Canada upgraded Barrick Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Bank of America downgraded Barrick Gold from a "buy" rating to a "neutral" rating and cut their price objective for the company from $21.00 to $18.00 in a research report on Monday, January 27th. National Bank Financial upgraded Barrick Gold to a "hold" rating in a report on Friday, March 21st. Finally, Citigroup cut their price target on Barrick Gold from $23.00 to $17.00 and set a "neutral" rating on the stock in a report on Friday, December 20th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $23.75.

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Barrick Gold Stock Up 1.3 %

GOLD traded up $0.26 during trading on Monday, hitting $19.57. 15,524,860 shares of the company's stock traded hands, compared to its average volume of 21,554,256. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $33.76 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 0.44 and a beta of 0.58. The company's 50 day simple moving average is $17.71 and its two-hundred day simple moving average is $18.04. Barrick Gold has a 12-month low of $0.25 and a 12-month high of $21.35.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last released its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%.

Barrick Gold declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the gold and copper producer to repurchase up to 3.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold's payout ratio is 32.52%.

Institutional Investors Weigh In On Barrick Gold

Several large investors have recently added to or reduced their stakes in the business. Crowley Wealth Management Inc. acquired a new stake in Barrick Gold in the fourth quarter valued at $26,000. Vega Investment Solutions acquired a new position in Barrick Gold in the fourth quarter valued at $31,000. Strategic Investment Solutions Inc. IL purchased a new stake in Barrick Gold during the 4th quarter valued at approximately $37,000. Ameriflex Group Inc. acquired a new position in shares of Barrick Gold in the fourth quarter valued at approximately $39,000. Finally, First Horizon Advisors Inc. raised its position in Barrick Gold by 619.7% during the 4th quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer's stock worth $48,000 after buying an additional 2,646 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.