Q4 EPS Estimates for Barrick Gold Reduced by Raymond James

Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX - Equities researchers at Raymond James reduced their Q4 2024 EPS estimates for shares of Barrick Gold in a research report issued on Sunday, November 10th. Raymond James analyst B. Macarthur now expects that the gold and copper producer will post earnings of $0.44 per share for the quarter, down from their previous forecast of $0.46. Raymond James currently has a "Outperform" rating and a $26.00 target price on the stock. The consensus estimate for Barrick Gold's current full-year earnings is $1.29 per share. Raymond James also issued estimates for Barrick Gold's Q1 2025 earnings at $0.41 EPS, Q2 2025 earnings at $0.43 EPS, Q3 2025 earnings at $0.44 EPS, Q4 2025 earnings at $0.45 EPS and FY2025 earnings at $1.72 EPS.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last issued its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.05. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a net margin of 13.19% and a return on equity of 5.82%. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 earnings per share.

A number of other research analysts have also issued reports on GOLD. Jefferies Financial Group raised their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a "buy" rating in a report on Friday, September 13th. Scotiabank cut their price target on shares of Barrick Gold from $25.00 to $24.00 and set a "sector outperform" rating on the stock in a report on Friday, November 8th. TD Securities decreased their price objective on Barrick Gold from $27.00 to $26.00 and set a "buy" rating for the company in a report on Friday, November 8th. Argus raised 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. Finally, UBS Group lowered Barrick Gold from a "buy" rating to a "neutral" rating and reduced their price target for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $23.90.

Barrick Gold Price Performance

NYSE GOLD traded down $0.21 on Wednesday, hitting $16.81. 24,185,227 shares of the company's stock were exchanged, compared to its average volume of 21,384,084. The stock has a 50-day moving average of $19.84 and a 200-day moving average of $18.49. The stock has a market cap of $29.38 billion, a price-to-earnings ratio of 18.10, a P/E/G ratio of 0.40 and a beta of 0.56. 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 has a 52 week low of $13.76 and a 52 week high of $21.35.

Institutional Investors Weigh In On Barrick Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOLD. Exchange Traded Concepts LLC grew its stake in shares of Barrick Gold by 198.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer's stock worth $28,000 after buying an additional 935 shares during the last quarter. Clean Yield Group purchased a new stake in shares of Barrick Gold in the first quarter worth $25,000. Eastern Bank bought a new position in shares of Barrick Gold during the third quarter valued at $32,000. Crewe Advisors LLC raised its position in shares of Barrick Gold by 628.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer's stock worth $30,000 after purchasing an additional 1,572 shares during the last quarter. Finally, JFS Wealth Advisors LLC boosted its stake in Barrick Gold by 451.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer's stock worth $38,000 after purchasing an additional 1,563 shares in the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold's payout ratio is 43.01%.

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.