Q3 2024 EPS Estimates for Barrick Gold Corp Lifted by Analyst (NYSE:GOLD)

Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX - Equities researchers at Raymond James increased their Q3 2024 earnings per share estimates for shares of Barrick Gold in a research note issued to investors on Monday, September 23rd. Raymond James analyst B. Macarthur now forecasts that the gold and copper producer will post earnings per share of $0.39 for the quarter, up from their prior estimate of $0.34. Raymond James currently has a "Outperform" rating and a $26.00 price objective on the stock. The consensus estimate for Barrick Gold's current full-year earnings is $1.25 per share. Raymond James also issued estimates for Barrick Gold's Q1 2025 earnings at $0.46 EPS, Q2 2025 earnings at $0.48 EPS, Q3 2025 earnings at $0.48 EPS, Q4 2025 earnings at $0.50 EPS and FY2025 earnings at $1.92 EPS.

Several other research analysts have also issued reports on the company. Argus raised Barrick Gold from a "hold" rating to a "buy" rating and set a $24.00 target price for the company in a research report on Thursday, August 29th. Royal Bank of Canada raised their target price on Barrick Gold from $21.00 to $22.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 10th. Jefferies Financial Group lifted their price objective on Barrick Gold from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Friday, September 13th. CIBC lifted their price objective on Barrick Gold from $23.00 to $27.00 and gave the stock an "outperformer" rating in a research report on Wednesday, July 10th. Finally, Scotiabank lifted their price objective on Barrick Gold from $23.00 to $25.00 and gave the stock a "sector outperform" rating in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $23.60.

Barrick Gold Trading Up 1.5 %

NYSE:GOLD traded up $0.32 during trading hours on Thursday, hitting $21.02. 28,632,102 shares of the company were exchanged, compared to its average volume of 21,360,877. The stock has a market capitalization of $36.84 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 0.49 and a beta of 0.55. 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 one year low of $13.76 and a one year high of $21.21. The company has a fifty day simple moving average of $19.30 and a 200 day simple moving average of $17.74.

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 for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the business posted $0.19 EPS. Barrick Gold's revenue for the quarter was up 11.6% on a year-over-year basis.

Barrick Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 1.90%. Barrick Gold's dividend payout ratio (DPR) is currently 48.78%.

Hedge Funds Weigh In On Barrick Gold

Hedge funds have recently added to or reduced their stakes in the stock. Principal Securities Inc. bought a new stake in shares of Barrick Gold in the 4th quarter worth approximately $26,000. Corient Private Wealth LLC raised its holdings in Barrick Gold by 0.9% during the 4th quarter. Corient Private Wealth LLC now owns 123,651 shares of the gold and copper producer's stock valued at $2,237,000 after buying an additional 1,066 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Barrick Gold by 175.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer's stock valued at $32,000 after buying an additional 1,143 shares during the last quarter. Advisory Services Network LLC raised its holdings in Barrick Gold by 29.4% during the 4th quarter. Advisory Services Network LLC now owns 45,217 shares of the gold and copper producer's stock valued at $818,000 after buying an additional 10,273 shares during the last quarter. Finally, Congress Wealth Management LLC DE bought a new stake in Barrick Gold during the 4th quarter valued at $196,000. Institutional investors and hedge funds own 62.85% of the company's stock.

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.