FY2024 EPS Forecast for Barrick Gold Decreased by Analyst

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Research analysts at Raymond James cut their FY2024 earnings per share estimates for shares of Barrick Gold in a research report issued to clients and investors on Thursday, January 9th. Raymond James analyst B. Macarthur now expects that the gold and copper producer will post earnings of $1.20 per share for the year, down from their previous forecast of $1.22. Raymond James has a “Outperform” rating and a $25.00 price target on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $1.28 per share. Raymond James also issued estimates for Barrick Gold’s Q4 2024 earnings at $0.39 EPS, Q1 2025 earnings at $0.33 EPS, Q2 2025 earnings at $0.30 EPS, Q3 2025 earnings at $0.35 EPS, Q4 2025 earnings at $0.37 EPS and FY2025 earnings at $1.39 EPS.

Other analysts have also recently issued reports about the stock. TD Securities decreased their price objective on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Scotiabank dropped their price target on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a report on Monday, November 25th. Citigroup reduced their price objective on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Finally, CIBC downgraded shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Barrick Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.82.

Barrick Gold Stock Down 0.8 %

GOLD opened at $15.72 on Monday. The firm has a market cap of $27.37 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 0.47 and a beta of 0.54. 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’s 50-day simple moving average is $16.81 and its 200-day simple moving average is $18.41. Barrick Gold has a twelve month low of $13.76 and a twelve month high of $21.35.

Barrick Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is currently 43.01%.

Institutional Investors Weigh In On Barrick Gold

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its stake in shares of Barrick Gold by 19.9% in the 3rd quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock valued at $9,630,000 after acquiring an additional 80,366 shares during the last quarter. DCF Advisers LLC increased its stake in Barrick Gold by 48.3% in the second quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock valued at $1,793,000 after purchasing an additional 35,000 shares in the last quarter. Mizuho Markets Americas LLC raised its holdings in Barrick Gold by 21.7% in the third quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer’s stock worth $46,097,000 after purchasing an additional 413,012 shares during the period. Entropy Technologies LP acquired a new position in shares of Barrick Gold in the 3rd quarter valued at $3,711,000. Finally, Aigen Investment Management LP increased its position in shares of Barrick Gold by 330.5% in the 3rd quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock valued at $1,974,000 after buying an additional 76,186 shares in the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

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.