Brokers Offer Predictions for Barrick Gold Corp’s FY2022 Earnings (NYSE:GOLD)

Barrick Gold Corp (NYSE:GOLDGet Rating) (TSE:ABX) – Stock analysts at Cormark lowered their FY2022 EPS estimates for shares of Barrick Gold in a report issued on Wednesday, January 18th. Cormark analyst R. Gray now anticipates that the gold and copper producer will post earnings per share of $0.71 for the year, down from their previous estimate of $0.78. The consensus estimate for Barrick Gold’s current full-year earnings is $0.80 per share. Cormark also issued estimates for Barrick Gold’s Q4 2022 earnings at $0.09 EPS, Q1 2023 earnings at $0.17 EPS, Q2 2023 earnings at $0.18 EPS, Q3 2023 earnings at $0.18 EPS, Q4 2023 earnings at $0.19 EPS and FY2023 earnings at $0.72 EPS.

GOLD has been the subject of several other reports. National Bank Financial raised their target price on shares of Barrick Gold from C$25.00 to C$30.00 in a report on Friday, January 13th. Stifel Nicolaus dropped their target price on shares of Barrick Gold from C$35.25 to C$33.00 in a report on Wednesday, October 19th. Barclays lowered their price target on shares of Barrick Gold from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, November 21st. TD Securities lowered their price target on shares of Barrick Gold from $24.00 to $21.00 and set a “buy” rating for the company in a report on Friday, November 4th. Finally, Royal Bank of Canada lowered their price target on shares of Barrick Gold from $27.00 to $20.00 and set an “outperform” rating for the company in a report on Monday, November 21st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.99.

Barrick Gold Stock Performance

NYSE:GOLD opened at $18.97 on Friday. The company has a current ratio of 3.76, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $17.29 and a two-hundred day moving average price of $16.15. Barrick Gold has a twelve month low of $13.01 and a twelve month high of $26.07. The company has a market capitalization of $33.30 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 11.73 and a beta of 0.28.

Barrick Gold (NYSE:GOLDGet Rating) (TSE:ABX) last posted its earnings results on Thursday, November 3rd. The gold and copper producer reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. Barrick Gold had a net margin of 16.39% and a return on equity of 5.34%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $3.09 billion.

Barrick Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Wednesday, November 30th were issued a $0.11 dividend. The ex-dividend date was Tuesday, November 29th. This represents a $0.44 dividend on an annualized basis and a yield of 2.32%. Barrick Gold’s payout ratio is 37.38%.

Institutional Investors Weigh In On Barrick Gold

Institutional investors have recently bought and sold shares of the stock. CoreCap Advisors LLC purchased a new stake in Barrick Gold in the second quarter valued at approximately $29,000. Hexagon Capital Partners LLC grew its holdings in Barrick Gold by 355.1% in the third quarter. Hexagon Capital Partners LLC now owns 1,661 shares of the gold and copper producer’s stock valued at $26,000 after purchasing an additional 1,296 shares during the period. Optiver Holding B.V. grew its holdings in Barrick Gold by 65.9% in the second quarter. Optiver Holding B.V. now owns 1,669 shares of the gold and copper producer’s stock valued at $30,000 after purchasing an additional 663 shares during the period. Fairfield Bush & CO. purchased a new stake in Barrick Gold in the first quarter valued at approximately $42,000. Finally, Grayhawk Investment Strategies Inc. acquired a new position in Barrick Gold during the second quarter valued at approximately $39,000. 56.82% of the stock is currently owned by hedge funds and other institutional investors.

About Barrick Gold

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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.

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Earnings History and Estimates for Barrick Gold (NYSE:GOLD)

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