Raymond James Analysts Lower Earnings Estimates for Barrick Gold Corp (NYSE:GOLD)

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Investment analysts at Raymond James decreased their Q2 2024 earnings per share estimates for shares of Barrick Gold in a report released on Thursday, July 4th. Raymond James analyst B. Macarthur now forecasts that the gold and copper producer will post earnings of $0.28 per share for the quarter, down from their previous estimate of $0.31. The consensus estimate for Barrick Gold’s current full-year earnings is $1.08 per share. Raymond James also issued estimates for Barrick Gold’s Q2 2025 earnings at $0.33 EPS, Q3 2025 earnings at $0.32 EPS and Q4 2025 earnings at $0.36 EPS.

A number of other brokerages have also commented on GOLD. BMO Capital Markets cut their price objective on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.60.

Barrick Gold Price Performance

NYSE:GOLD opened at $17.44 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 2.49. The stock has a market cap of $30.62 billion, a P/E ratio of 21.27, a PEG ratio of 0.49 and a beta of 0.51. The company has a fifty day moving average price of $16.89 and a 200 day moving average price of $16.45. Barrick Gold has a one year low of $13.76 and a one year high of $18.95.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04. The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. Barrick Gold’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 earnings per share.

Barrick Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, May 31st. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.29%. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

Institutional Investors Weigh In On Barrick Gold

Several large investors have recently made changes to their positions in GOLD. Creative Financial Designs Inc. ADV boosted its position in Barrick Gold by 7.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 9,100 shares of the gold and copper producer’s stock valued at $165,000 after buying an additional 600 shares in the last quarter. A. D. Beadell Investment Counsel Inc. grew its position in Barrick Gold by 1.2% during the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 59,825 shares of the gold and copper producer’s stock worth $1,082,000 after acquiring an additional 700 shares during the last quarter. Global Retirement Partners LLC increased its holdings in Barrick Gold by 15.3% during the 1st quarter. Global Retirement Partners LLC now owns 5,434 shares of the gold and copper producer’s stock valued at $90,000 after purchasing an additional 721 shares in the last quarter. Edge Wealth Management LLC raised its position in Barrick Gold by 6.3% in the 1st quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock valued at $204,000 after purchasing an additional 725 shares during the last quarter. Finally, Greenleaf Trust boosted its stake in Barrick Gold by 3.5% in the first quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer’s stock worth $418,000 after purchasing an additional 838 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

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.