FY2024 EPS Estimates for Barrick Gold Cut by Raymond James

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Investment analysts at Raymond James reduced their FY2024 earnings estimates for Barrick Gold in a research report issued to clients and investors on Thursday, January 9th. Raymond James analyst B. Macarthur now forecasts that the gold and copper producer will earn $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.

Several other equities research analysts also recently commented on the stock. Scotiabank decreased their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research report on Monday, November 25th. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Berenberg Bank raised their target price on Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. TD Securities decreased their price target on Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Finally, Citigroup lowered 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. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.82.

Barrick Gold Trading Up 0.7 %

Shares of Barrick Gold stock opened at $15.56 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. Barrick Gold has a 52 week low of $13.76 and a 52 week high of $21.35. The stock has a 50 day moving average price of $16.68 and a two-hundred day moving average price of $18.39. The stock has a market capitalization of $27.09 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 0.47 and a beta of 0.54.

Institutional Trading of Barrick Gold

Several large investors have recently modified their holdings of the business. Ritholtz Wealth Management grew its position in shares of Barrick Gold by 2.8% in the 3rd quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock worth $361,000 after buying an additional 502 shares during the last quarter. Greenleaf Trust lifted its stake in Barrick Gold by 2.1% in the third quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock worth $510,000 after acquiring an additional 540 shares during the period. Moors & Cabot Inc. increased its position in Barrick Gold by 0.9% during the 3rd quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock valued at $1,275,000 after purchasing an additional 579 shares during the period. Chelsea Counsel Co. raised its holdings in Barrick Gold by 1.4% in the 3rd quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock worth $855,000 after purchasing an additional 590 shares in the last quarter. Finally, Silverlake Wealth Management LLC lifted its position in shares of Barrick Gold by 1.3% in the 3rd quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock worth $992,000 after purchasing an additional 628 shares during the period. 62.85% of the stock is owned by institutional investors.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold’s payout ratio is 43.01%.

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.