Barrick Gold Corp (NYSE:GOLD) Expected to Post Q3 2024 Earnings of $0.39 Per Share

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Raymond James boosted their Q3 2024 EPS estimates for Barrick Gold in a report released on Monday, September 23rd. Raymond James analyst B. Macarthur now anticipates that the gold and copper producer will post earnings per share of $0.39 for the quarter, up from their prior forecast of $0.34. Raymond James currently has a “Outperform” rating and a $26.00 price target on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $1.25 per share. Raymond James also issued estimates for Barrick Gold’s Q1 2025 earnings at $0.46 EPS, Q2 2025 earnings at $0.48 EPS, Q3 2025 earnings at $0.48 EPS, Q4 2025 earnings at $0.50 EPS and FY2025 earnings at $1.92 EPS.

GOLD has been the subject of a number of other research reports. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, August 29th. Scotiabank increased their price objective on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Royal Bank of Canada increased their price target on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Jefferies Financial Group boosted their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, CIBC raised their price objective on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.60.

Barrick Gold Stock Performance

Shares of GOLD opened at $21.02 on Thursday. The firm has a market cap of $36.84 billion, a P/E ratio of 25.84, a PEG ratio of 0.49 and a beta of 0.55. Barrick Gold has a twelve month low of $13.76 and a twelve month high of $21.21. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01. The firm’s 50 day moving average price is $19.30 and its two-hundred day moving average price is $17.74.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Principal Securities Inc. bought a new position in shares of Barrick Gold during the 4th quarter worth approximately $26,000. Corient Private Wealth LLC lifted its holdings in Barrick Gold by 0.9% during the 4th quarter. Corient Private Wealth LLC now owns 123,651 shares of the gold and copper producer’s stock worth $2,237,000 after purchasing an additional 1,066 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Barrick Gold by 175.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock valued at $32,000 after acquiring an additional 1,143 shares during the period. Advisory Services Network LLC grew its position in shares of Barrick Gold by 29.4% during the 4th quarter. Advisory Services Network LLC now owns 45,217 shares of the gold and copper producer’s stock valued at $818,000 after purchasing an additional 10,273 shares in the last quarter. Finally, Congress Wealth Management LLC DE purchased a new stake in shares of Barrick Gold in the 4th quarter valued at about $196,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Friday, August 30th. Barrick Gold’s payout ratio is 48.78%.

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.