Scotiabank Brokers Lift Earnings Estimates for Barrick Gold

Key Points

• Scotiabank raised its FY2027 EPS forecast for Barrick Gold to $5.38 from $5.23; the article cites a current-year consensus estimate of $2.24 per share.
• Analyst sentiment is “Moderate Buy”, with two Strong Buy, eight Buy, and five Hold ratings. The average price target is C$66.27.
• Barrick reported quarterly EPS of C$1.17 and revenue of C$6.06 billion. Its shares opened at C$56.53, within a 52-week range of C$45.28 to C$74.00.

Barrick Gold Co. (TSE:ABX - Free Report) NYSE: ABX - Scotiabank increased their FY2027 earnings per share estimates for shares of Barrick Gold in a note issued to investors on Monday, November 2nd. Scotiabank analyst T. Jakusconek now anticipates that the basic materials company will earn $5.38 per share for the year, up from their prior estimate of $5.23. The consensus estimate for Barrick Gold's current full-year earnings is $2.24 per share.

A number of other research firms have also commented on ABX. Stifel Nicolaus decreased their price objective on Barrick Gold from C$90.00 to C$84.00 and set a "buy" rating on the stock in a research note on Monday, October 19th. Raymond James Financial cut their target price on shares of Barrick Gold from C$58.00 to C$56.00 and set an "outperform" rating for the company in a research note on Tuesday, August 11th. Barclays upped their target price on shares of Barrick Gold from C$55.00 to C$58.00 in a report on Thursday, August 13th. Citigroup upgraded shares of Barrick Gold to a "hold" rating in a report on Thursday, September 3rd. Finally, National Bank Financial decreased their price target on shares of Barrick Gold from C$75.00 to C$72.50 and set an "outperform" rating on the stock in a research note on Tuesday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of C$66.27.

Barrick Gold Stock Performance

TSE ABX opened at C$56.53 on Friday. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 17.15. Barrick Gold has a fifty-two week low of C$45.28 and a fifty-two week high of C$74.00. The business has a fifty day moving average of C$58.20 and a 200-day moving average of C$58.34. The stock has a market cap of C$93.04 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 2.34 and a beta of 1.86.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX last released its quarterly earnings results on Monday, August 10th. The basic materials company reported C$1.17 earnings per share for the quarter. Barrick Gold had a return on equity of 24.57% and a net margin of 31.60%. The company had revenue of C$6.06 billion during the quarter.

Insiders Place Their Bets

In other Barrick Gold news, insider Sarah Anna Ball Teslik acquired 12,613 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were acquired at an average price of C$67.27 per share, for a total transaction of C$848,476.51. Following the completion of the acquisition, the insider directly owned 12,613 shares of the company's stock, valued at C$848,476.51. This trade represents a ∞ increase in their ownership of the stock. Also, Director Mark Francis Hill sold 174,778 shares of Barrick Gold stock in a transaction on Friday, September 25th. The shares were sold at an average price of C$59.47, for a total value of C$10,394,047.66. Following the completion of the sale, the director directly owned 125,914 shares of the company's stock, valued at approximately C$7,488,105.58. This represents a 58.13% decrease in their position. Corporate insiders own 0.60% of the company's stock.

About Barrick Gold

Barrick is a leading global mining, exploration and development company. With one of the largest portfolios of world-class and long-life gold and copper assets in the industry - including six of the world's Tier One gold mines -Barrick's operations and projects span 18 countries and five continents. Barrick is also the largest gold producer in the United States. We create real, long-term value for all stakeholders through responsible mining, strong partnerships and a disciplined approach to growth.

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