Equities Analysts Offer Predictions for Barrick Gold Corp’s Q1 2024 Earnings (NYSE:GOLD)

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Equities research analysts at Raymond James cut their Q1 2024 earnings estimates for shares of Barrick Gold in a research report issued to clients and investors on Tuesday, April 16th. Raymond James analyst B. Macarthur now anticipates that the gold and copper producer will post earnings per share of $0.17 for the quarter, down from their prior forecast of $0.22. Raymond James has a “Outperform” rating and a $23.00 price objective on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $0.91 per share. Raymond James also issued estimates for Barrick Gold’s Q2 2024 earnings at $0.21 EPS, Q3 2024 earnings at $0.21 EPS, Q4 2024 earnings at $0.22 EPS and FY2024 earnings at $0.81 EPS.

Other equities research analysts have also issued reports about the stock. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Sanford C. Bernstein downgraded Barrick Gold from an “outperform” rating to a “market perform” rating in a research report on Monday, January 8th. Jefferies Financial Group started coverage on Barrick Gold in a research report on Thursday, February 29th. They set a “buy” rating and a $21.00 target price for the company. StockNews.com upgraded Barrick Gold from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $18.00 target price on shares of Barrick Gold in a research report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $21.48.

Barrick Gold Trading Up 1.7 %

Shares of GOLD opened at $16.98 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.16 and a quick ratio of 2.40. Barrick Gold has a 1 year low of $13.76 and a 1 year high of $20.75. The company has a 50 day simple moving average of $15.86 and a two-hundred day simple moving average of $16.21. The firm has a market cap of $29.81 billion, a P/E ratio of 23.58, a price-to-earnings-growth ratio of 1.50 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the firm posted $0.13 EPS.

Institutional Trading of Barrick Gold

A number of institutional investors have recently bought and sold shares of GOLD. Oak Asset Management LLC boosted its stake in shares of Barrick Gold by 23.7% during the first quarter. Oak Asset Management LLC now owns 39,400 shares of the gold and copper producer’s stock valued at $656,000 after purchasing an additional 7,550 shares during the period. SteelPeak Wealth LLC purchased a new stake in shares of Barrick Gold during the first quarter valued at $169,000. Edge Wealth Management LLC boosted its stake in shares of Barrick Gold by 6.3% during the first 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 period. S.A. Mason LLC boosted its stake in shares of Barrick Gold by 3.5% during the first quarter. S.A. Mason LLC now owns 28,543 shares of the gold and copper producer’s stock valued at $475,000 after purchasing an additional 973 shares during the period. Finally, Sunbelt Securities Inc. boosted its stake in shares of Barrick Gold by 46.8% during the first quarter. Sunbelt Securities Inc. now owns 10,040 shares of the gold and copper producer’s stock valued at $167,000 after purchasing an additional 3,200 shares during the period. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a $0.074 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.30 dividend on an annualized basis and a yield of 1.74%. Barrick Gold’s dividend payout ratio is presently 55.56%.

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.