National Bank Financial Brokers Increase Earnings Estimates for Barrick Gold Corp (NYSE:GOLD)

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Stock analysts at National Bank Financial upped their FY2022 earnings per share estimates for Barrick Gold in a research note issued to investors on Monday, June 7th. National Bank Financial analyst M. Parkin now forecasts that the gold and copper producer will post earnings of $1.23 per share for the year, up from their previous forecast of $1.02.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Tuesday, May 4th. The gold and copper producer reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.17 billion. Barrick Gold had a return on equity of 7.18% and a net margin of 19.19%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.16 earnings per share.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Barrick Gold from $30.00 to $25.00 in a report on Tuesday, April 27th. Raymond James lifted their target price on Barrick Gold from $29.50 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday. Canaccord Genuity restated a “buy” rating and issued a $42.00 price target on shares of Barrick Gold in a report on Thursday, February 11th. TD Securities cut their price objective on Barrick Gold from $32.00 to $30.00 and set an “action list buy” rating on the stock in a report on Friday, February 26th. Finally, Fundamental Research boosted their price objective on Barrick Gold from $69.96 to $72.72 and gave the company a “buy” rating in a research report on Monday, May 10th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Barrick Gold currently has an average rating of “Buy” and an average price target of $32.72.

Barrick Gold stock opened at $23.71 on Thursday. The company has a market cap of $42.17 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 9.92 and a beta of 0.29. The business’s 50 day moving average price is $22.88. The company has a quick ratio of 3.01, a current ratio of 3.77 and a debt-to-equity ratio of 0.16. Barrick Gold has a fifty-two week low of $18.64 and a fifty-two week high of $31.22.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Friday, May 28th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Thursday, May 27th. Barrick Gold’s payout ratio is 14.78%.

Several large investors have recently bought and sold shares of the business. Safeguard Investment Advisory Group LLC acquired a new stake in Barrick Gold in the fourth quarter valued at $25,000. Logan Capital Management Inc. bought a new stake in shares of Barrick Gold in the 1st quarter valued at about $25,000. Proffitt & Goodson Inc. acquired a new stake in Barrick Gold in the 1st quarter valued at about $30,000. RMR Wealth Builders bought a new position in Barrick Gold during the first quarter worth about $32,000. Finally, Rockbridge Investment Management LCC acquired a new position in Barrick Gold during the first quarter worth approximately $33,000. 57.18% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Earnings History and Estimates for Barrick Gold (NYSE:GOLD)

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