Barrick Gold Corp (NYSE:GOLD) Expected to Earn Q3 2024 Earnings of $0.34 Per Share

Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX - Raymond James boosted their Q3 2024 EPS estimates for Barrick Gold in a report released on Wednesday, May 1st. Raymond James analyst B. Macarthur now anticipates that the gold and copper producer will post earnings per share of $0.34 for the quarter, up from their prior forecast of $0.33. Raymond James currently has a "Outperform" rating and a $23.00 price target on the stock. The consensus estimate for Barrick Gold's current full-year earnings is $0.95 per share. Raymond James also issued estimates for Barrick Gold's Q4 2024 earnings at $0.35 EPS, FY2024 earnings at $1.19 EPS and FY2025 earnings at $1.33 EPS.

A number of other research analysts have also recently issued reports on the company. Argus reissued a "hold" rating on shares of Barrick Gold in a research note on Monday, February 26th. Sanford C. Bernstein lowered shares of Barrick Gold from an "outperform" rating to a "market perform" rating in a research note on Monday, January 8th. National Bank Financial reissued a "sector perform overweight" rating on shares of Barrick Gold in a research report on Monday, April 8th. StockNews.com raised shares of Barrick Gold from a "hold" rating to a "buy" rating in a research note on Wednesday, February 21st. Finally, Scotiabank cut their price target on Barrick Gold from $24.00 to $23.00 and set a "sector outperform" rating on the stock in a report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $20.06.

Barrick Gold Trading Down 0.5 %

Shares of Barrick Gold stock traded down $0.09 during trading on Friday, hitting $16.46. 16,782,273 shares of the company were exchanged, compared to its average volume of 23,139,697. The firm has a market capitalization of $28.90 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 1.44 and a beta of 0.59. The firm's fifty day moving average price is $16.31 and its 200 day moving average price is $16.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.16 and a quick ratio of 2.40. Barrick Gold has a 1-year low of $13.76 and a 1-year high of $20.75.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last posted its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.04. Barrick Gold had a return on equity of 4.89% and a net margin of 12.58%. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same period last year, the company earned $0.14 EPS. The firm's revenue was up 3.9% on a year-over-year basis.

Barrick Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.10 per share. This is an increase from Barrick Gold's previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Friday, May 31st. Barrick Gold's payout ratio is currently 48.78%.

Hedge Funds Weigh In On Barrick Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOLD. Wellington Management Group LLP grew its holdings in Barrick Gold by 58.4% in the 4th quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer's stock valued at $1,821,963,000 after buying an additional 37,128,653 shares in the last quarter. Van ECK Associates Corp increased its position in Barrick Gold by 9.7% during the fourth quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer's stock worth $1,464,070,000 after acquiring an additional 7,150,142 shares during the period. Capital World Investors raised its stake in Barrick Gold by 16.4% in the 4th quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer's stock worth $821,790,000 after purchasing an additional 6,417,244 shares in the last quarter. Ruffer LLP boosted its holdings in Barrick Gold by 198.3% in the 4th quarter. Ruffer LLP now owns 9,606,218 shares of the gold and copper producer's stock valued at $173,727,000 after purchasing an additional 6,385,566 shares during the period. Finally, FMR LLC grew its position in shares of Barrick Gold by 12.2% during the 3rd quarter. FMR LLC now owns 43,399,480 shares of the gold and copper producer's stock worth $631,228,000 after purchasing an additional 4,731,559 shares in the last quarter. 62.85% of the stock is owned by institutional investors.

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.