Cormark Comments on Barrick Gold's Q1 Earnings (NYSE:GOLD)

Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX - Stock analysts at Cormark boosted their Q1 2025 earnings estimates for Barrick Gold in a research report issued on Tuesday, April 22nd. Cormark analyst R. Gray now forecasts that the gold and copper producer will post earnings of $0.30 per share for the quarter, up from their prior forecast of $0.26. The consensus estimate for Barrick Gold's current full-year earnings is $1.47 per share.

GOLD has been the topic of several other reports. Stifel Canada raised Barrick Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. Citigroup cut their price objective on shares of Barrick Gold from $21.00 to $17.00 and set a "neutral" rating on the stock in a research report on Monday, March 31st. StockNews.com upgraded shares of Barrick Gold from a "buy" rating to a "strong-buy" rating in a research report on Saturday, April 5th. National Bankshares reaffirmed an "outperform" rating on shares of Barrick Gold in a report on Wednesday, April 2nd. Finally, Scotiabank increased their price objective on Barrick Gold from $20.00 to $22.00 and gave the stock a "sector perform" rating in a report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $24.05.

Barrick Gold Stock Performance

Shares of NYSE GOLD traded up $0.10 during mid-day trading on Thursday, hitting $19.15. The company had a trading volume of 8,721,858 shares, compared to its average volume of 21,567,112. Barrick Gold has a 12 month low of $15.11 and a 12 month high of $21.35. The stock has a market cap of $32.92 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 0.44 and a beta of 0.55. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. The firm's 50 day simple moving average is $18.95 and its two-hundred day simple moving average is $17.90.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last announced its quarterly earnings data 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 net margin of 16.59% and a return on equity of 6.76%.

Institutional Investors Weigh In On Barrick Gold

Several large investors have recently modified their holdings of GOLD. Crowley Wealth Management Inc. bought a new stake in shares of Barrick Gold during the fourth quarter worth $26,000. Vega Investment Solutions acquired a new position in Barrick Gold during the 4th quarter worth about $31,000. Nexus Investment Management ULC bought a new stake in Barrick Gold during the 1st quarter worth about $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Barrick Gold in the fourth quarter valued at approximately $37,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Barrick Gold in the 4th quarter valued at $39,000. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 2.09%. The ex-dividend date was Friday, February 28th. Barrick Gold's dividend payout ratio is 32.52%.

Barrick Gold declared that its board has initiated a share repurchase plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the gold and copper producer to repurchase up to 3.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is 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.