FY2023 EPS Estimates for Barrick Gold Corp Lowered by National Bank Financial (NYSE:GOLD)

Barrick Gold Corp (NYSE:GOLDFree Report) (TSE:ABX) – Equities researchers at National Bank Financial lowered their FY2023 earnings estimates for shares of Barrick Gold in a research note issued on Monday, February 5th. National Bank Financial analyst S. Nagle now anticipates that the gold and copper producer will earn $0.73 per share for the year, down from their prior forecast of $0.79. National Bank Financial has a “Sector Perform Overweight” rating on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $0.79 per share. National Bank Financial also issued estimates for Barrick Gold’s Q4 2023 earnings at $0.16 EPS.

A number of other equities analysts also recently issued reports on GOLD. BMO Capital Markets dropped their price objective on shares of Barrick Gold from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 17th. StockNews.com downgraded shares of Barrick Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Raymond James dropped their price objective on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Friday, October 13th. Sanford C. Bernstein downgraded shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. Finally, TD Securities dropped their price objective on shares of Barrick Gold from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, November 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $21.98.

Get Our Latest Stock Analysis on GOLD

Barrick Gold Price Performance

Shares of GOLD stock opened at $15.02 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.07 and a quick ratio of 2.28. The company has a market capitalization of $26.37 billion, a P/E ratio of 500.67, a P/E/G ratio of 1.02 and a beta of 0.58. The company’s 50-day simple moving average is $16.95 and its two-hundred day simple moving average is $16.34. Barrick Gold has a one year low of $13.82 and a one year high of $20.75.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GOLD. Van ECK Associates Corp boosted its stake in Barrick Gold by 9.7% during the 4th 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 purchasing an additional 7,150,142 shares during the period. Wellington Management Group LLP boosted its stake in Barrick Gold by 35.0% during the 3rd quarter. Wellington Management Group LLP now owns 63,551,991 shares of the gold and copper producer’s stock worth $925,121,000 after purchasing an additional 16,485,756 shares during the period. Vanguard Group Inc. boosted its stake in Barrick Gold by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 62,567,785 shares of the gold and copper producer’s stock worth $910,361,000 after purchasing an additional 956,452 shares during the period. BlackRock Inc. boosted its stake in Barrick Gold by 3.7% during the 2nd quarter. BlackRock Inc. now owns 44,035,714 shares of the gold and copper producer’s stock worth $745,525,000 after purchasing an additional 1,570,978 shares during the period. Finally, FMR LLC lifted its stake in shares of Barrick Gold by 12.2% in the 3rd quarter. FMR LLC now owns 43,399,480 shares of the gold and copper producer’s stock worth $631,228,000 after acquiring an additional 4,731,559 shares during the period. 58.20% of the stock is 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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