Barrick Gold Corp (NYSE:GOLD – Get Rating) (TSE:ABX) – Analysts at KeyCorp lifted their Q2 2022 earnings per share estimates for Barrick Gold in a report released on Tuesday, May 10th. KeyCorp analyst A. Josephson now anticipates that the gold and copper producer will post earnings per share of $0.30 for the quarter, up from their prior estimate of $0.27. KeyCorp also issued estimates for Barrick Gold’s Q3 2022 earnings at $0.32 EPS, Q4 2022 earnings at $0.32 EPS and FY2022 earnings at $1.20 EPS.
GOLD has been the topic of a number of other research reports. The Goldman Sachs Group lowered shares of Barrick Gold from a “neutral” rating to a “sell” rating in a research note on Monday, January 17th. National Bank Financial lifted their price target on shares of Barrick Gold from C$29.00 to C$38.00 in a research note on Wednesday, April 20th. Jefferies Financial Group lifted their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “hold” rating in a research note on Wednesday, March 9th. Raymond James set a $31.00 price target on shares of Barrick Gold and gave the company an “outperform” rating in a research note on Thursday, May 5th. Finally, Sanford C. Bernstein lowered shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a research note on Monday, April 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $29.92.
Barrick Gold (NYSE:GOLD – Get Rating) (TSE:ABX) last released its quarterly earnings data on Wednesday, May 4th. The gold and copper producer reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. Barrick Gold had a net margin of 16.87% and a return on equity of 6.42%. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the firm earned $0.29 EPS. Barrick Gold’s quarterly revenue was down 3.5% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wexford Capital LP acquired a new position in Barrick Gold during the first quarter worth $2,257,000. Renaissance Technologies LLC increased its holdings in Barrick Gold by 22.9% during the first quarter. Renaissance Technologies LLC now owns 9,355,036 shares of the gold and copper producer’s stock worth $229,482,000 after buying an additional 1,743,000 shares during the last quarter. Northern Trust Corp increased its holdings in Barrick Gold by 0.4% during the first quarter. Northern Trust Corp now owns 915,054 shares of the gold and copper producer’s stock worth $22,446,000 after buying an additional 3,255 shares during the last quarter. Jaffetilchin Investment Partners LLC acquired a new position in Barrick Gold during the first quarter worth $420,000. Finally, Snider Financial Group acquired a new position in Barrick Gold during the first quarter worth $185,000. Institutional investors and hedge funds own 57.62% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Friday, May 27th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Thursday, May 26th. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.08. Barrick Gold’s payout ratio is currently 35.09%.
About Barrick Gold (Get Rating)
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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