Analysts Set Expectations for Barrick Gold FY2028 Earnings

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Analysts at Stifel Canada issued their FY2028 earnings per share estimates for shares of Barrick Gold in a research note issued to investors on Wednesday, March 19th. Stifel Canada analyst R. Profiti expects that the gold and copper producer will post earnings per share of $1.44 for the year. Stifel Canada currently has a “Strong-Buy” rating on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $1.47 per share.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%.

GOLD has been the subject of a number of other research reports. Citigroup decreased their price target on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Raymond James reduced their price objective on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Cibc World Mkts downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Bank of America downgraded Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $21.00 to $18.00 in a research note on Monday, January 27th. Finally, UBS Group raised Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Wednesday, March 5th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.75.

Barrick Gold Trading Up 0.4 %

NYSE:GOLD opened at $19.41 on Thursday. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. Barrick Gold has a 1-year low of $0.25 and a 1-year high of $21.35. The firm has a market capitalization of $33.49 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58. The stock has a fifty day simple moving average of $17.37 and a 200 day simple moving average of $18.05.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GOLD. Crowley Wealth Management Inc. bought a new position in shares of Barrick Gold in the 4th quarter valued at approximately $26,000. Vega Investment Solutions bought a new position in shares of Barrick Gold in the 4th quarter valued at approximately $31,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Barrick Gold in the 4th quarter valued at approximately $37,000. Ameriflex Group Inc. bought a new position in shares of Barrick Gold in the 4th quarter valued at approximately $39,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Barrick Gold by 619.7% in the 4th quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock valued at $48,000 after acquiring an additional 2,646 shares in the last quarter. 62.85% of the stock is owned by institutional investors.

Barrick Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold’s payout ratio is 32.52%.

Barrick Gold declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the gold and copper producer to purchase up to 3.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.