National Bank Financial Comments on Barrick Gold Q3 Earnings

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Analysts at National Bank Financial issued their Q3 2024 EPS estimates for Barrick Gold in a note issued to investors on Tuesday, October 22nd. National Bank Financial analyst M. Parkin anticipates that the gold and copper producer will earn $0.35 per share for the quarter. The consensus estimate for Barrick Gold’s current full-year earnings is $1.27 per share.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, topping 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 business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the business posted $0.19 EPS. The business’s revenue was up 11.6% on a year-over-year basis.

Several other research analysts have also commented on GOLD. Raymond James decreased their price objective on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a report on Thursday, September 26th. Jefferies Financial Group lifted their price objective on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Thursday, August 29th. CIBC lifted their price target on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Scotiabank increased their price objective on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Barrick Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.60.

Barrick Gold Stock Performance

Shares of GOLD stock opened at $19.59 on Thursday. The firm has a market capitalization of $34.34 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 0.47 and a beta of 0.55. The stock has a fifty day moving average of $20.18 and a 200 day moving average of $18.31. Barrick Gold has a 52 week low of $13.76 and a 52 week high of $21.35. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.15.

Institutional Trading of Barrick Gold

Institutional investors and hedge funds have recently bought and sold shares of the company. Sunbelt Securities Inc. increased its position in shares of Barrick Gold by 46.8% during the first quarter. Sunbelt Securities Inc. now owns 10,040 shares of the gold and copper producer’s stock valued at $167,000 after acquiring an additional 3,200 shares in the last quarter. Edge Wealth Management LLC raised its stake in shares of Barrick Gold by 6.3% in the first quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock worth $204,000 after purchasing an additional 725 shares during the last quarter. SteelPeak Wealth LLC bought a new position in shares of Barrick Gold during the first quarter valued at $169,000. Oak Asset Management LLC boosted its position in shares of Barrick Gold by 23.7% during the first quarter. Oak Asset Management LLC now owns 39,400 shares of the gold and copper producer’s stock valued at $656,000 after buying an additional 7,550 shares during the last quarter. Finally, JTC Employer Solutions Trustee Ltd increased its holdings in Barrick Gold by 219.8% in the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 15,422 shares of the gold and copper producer’s stock worth $250,000 after buying an additional 10,600 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Friday, August 30th. Barrick Gold’s payout ratio is 48.78%.

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.