Analysts Issue Forecasts for Barrick Gold FY2024 Earnings

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Research analysts at Scotiabank upped their FY2024 earnings per share estimates for Barrick Gold in a research note issued on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now anticipates that the gold and copper producer will earn $1.15 per share for the year, up from their prior estimate of $1.11. Scotiabank currently has a “Sector Outperform” rating and a $23.00 target price on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $1.28 per share. Scotiabank also issued estimates for Barrick Gold’s FY2025 earnings at $1.50 EPS and FY2026 earnings at $1.46 EPS.

GOLD has been the topic of several other reports. CIBC cut Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. TD Securities lowered their price target on Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Raymond James reduced their price objective on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, November 25th. UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $22.00 in a report on Wednesday, October 30th. Finally, Jefferies Financial Group boosted their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.82.

Barrick Gold Stock Up 1.8 %

NYSE:GOLD opened at $15.85 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. The firm has a market cap of $27.60 billion, a P/E ratio of 17.04, a P/E/G ratio of 0.47 and a beta of 0.54. Barrick Gold has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The firm has a 50-day simple moving average of $16.95 and a two-hundred day simple moving average of $18.41.

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is currently 43.01%.

Hedge Funds Weigh In On Barrick Gold

Hedge funds have recently modified their holdings of the stock. Natixis Advisors LLC boosted its holdings in shares of Barrick Gold by 14.2% during the 2nd quarter. Natixis Advisors LLC now owns 76,218 shares of the gold and copper producer’s stock valued at $1,271,000 after purchasing an additional 9,455 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Barrick Gold by 353.1% in the second quarter. Acadian Asset Management LLC now owns 215,200 shares of the gold and copper producer’s stock worth $3,585,000 after buying an additional 167,700 shares in the last quarter. AGF Management Ltd. grew its holdings in shares of Barrick Gold by 5.5% in the second quarter. AGF Management Ltd. now owns 124,782 shares of the gold and copper producer’s stock valued at $2,295,000 after purchasing an additional 6,480 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Barrick Gold by 3.4% in the 2nd quarter. American Century Companies Inc. now owns 1,939,502 shares of the gold and copper producer’s stock worth $32,351,000 after buying an additional 63,144 shares during the last quarter. Finally, Achmea Investment Management B.V. grew its position in Barrick Gold by 128.9% in the second quarter. Achmea Investment Management B.V. now owns 189,383 shares of the gold and copper producer’s stock worth $3,158,000 after acquiring an additional 106,630 shares in the last quarter. Hedge funds and other 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.