Brokers Issue Forecasts for Barrick Gold FY2027 Earnings

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Equities research analysts at National Bank Financial issued their FY2027 earnings estimates for Barrick Gold in a report issued on Wednesday, May 7th. National Bank Financial analyst S. Nagle anticipates that the gold and copper producer will earn $1.97 per share for the year. National Bank Financial has a “Hold” rating on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $1.47 per share.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. The company had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period last year, the firm earned $0.19 EPS. Barrick Gold’s revenue for the quarter was up 13.9% compared to the same quarter last year.

Other equities analysts also recently issued research reports about the stock. StockNews.com raised shares of Barrick Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 5th. BMO Capital Markets initiated coverage on shares of Barrick Gold in a research note on Wednesday, April 16th. They set a “market perform” rating on the stock. Citigroup cut their price target on Barrick Gold from $21.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, March 31st. Scotiabank boosted their price objective on Barrick Gold from $20.00 to $22.00 and gave the company a “sector perform” rating in a research report on Monday, April 14th. Finally, TD Securities cut their target price on Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Barrick Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.05.

Barrick Gold Stock Down 3.0 %

NYSE GOLD opened at $18.83 on Friday. The stock’s 50-day moving average price is $19.09 and its 200-day moving average price is $17.83. The company has a market capitalization of $32.37 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 0.44 and a beta of 0.25. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. Barrick Gold has a 52 week low of $15.11 and a 52 week high of $21.35.

Hedge Funds Weigh In On Barrick Gold

Institutional investors and hedge funds have recently made changes to their positions in the business. Crowley Wealth Management Inc. bought a new position in shares of Barrick Gold in the 4th quarter valued at about $26,000. Vega Investment Solutions bought a new stake in shares of Barrick Gold in the 4th quarter valued at approximately $31,000. Nexus Investment Management ULC purchased a new position in shares of Barrick Gold in the 1st quarter worth approximately $32,000. Cary Street Partners Investment Advisory LLC bought a new position in shares of Barrick Gold during the 1st quarter valued at approximately $32,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Barrick Gold during the 4th quarter valued at $37,000. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold declared that its board has approved a stock repurchase program on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the gold and copper producer to repurchase up to 3.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Barrick Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Friday, May 30th. Barrick Gold’s payout ratio is 32.52%.

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.