FY2025 EPS Estimates for Barrick Gold Increased by Analyst

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Equities researchers at National Bank Financial lifted their FY2025 earnings per share (EPS) estimates for shares of Barrick Gold in a report issued on Monday, February 10th. National Bank Financial analyst M. Parkin now expects that the gold and copper producer will earn $1.88 per share for the year, up from their prior forecast of $1.80. The consensus estimate for Barrick Gold’s current full-year earnings is $1.23 per share.

A number of other research firms also recently commented on GOLD. Cibc World Mkts downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. UBS Group cut Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. Berenberg Bank boosted their target price on shares of Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. TD Securities reduced their price target on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Finally, CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.83.

Barrick Gold Stock Up 6.5 %

NYSE:GOLD opened at $18.18 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 company has a market capitalization of $31.40 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 0.39 and a beta of 0.55. Barrick Gold has a one year low of $13.76 and a one year high of $21.35. The stock has a 50-day simple moving average of $16.20 and a 200 day simple moving average of $18.17.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. Barrick Gold had a net margin of 13.19% and a return on equity of 5.82%.

Hedge Funds Weigh In On Barrick Gold

Large investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in shares of Barrick Gold by 17.5% in the fourth quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer’s stock valued at $996,802,000 after acquiring an additional 9,598,292 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Barrick Gold by 221.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock worth $199,427,000 after purchasing an additional 6,904,934 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Barrick Gold by 33.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock valued at $227,524,000 after purchasing an additional 2,854,055 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Barrick Gold by 32.4% during the 4th quarter. Geode Capital Management LLC now owns 10,650,999 shares of the gold and copper producer’s stock valued at $169,261,000 after purchasing an additional 2,603,744 shares during the period. Finally, Allianz SE bought a new stake in shares of Barrick Gold in the 4th quarter worth $33,726,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the gold and copper producer to reacquire up to 3.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Barrick Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.20%. Barrick Gold’s dividend payout ratio is presently 43.01%.

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.