Barrick Gold Corp to Post Q2 2024 Earnings of $0.22 Per Share, Zacks Research Forecasts (NYSE:GOLD)

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Stock analysts at Zacks Research increased their Q2 2024 earnings per share (EPS) estimates for shares of Barrick Gold in a research report issued on Wednesday, May 22nd. Zacks Research analyst A. Barman now expects that the gold and copper producer will earn $0.22 per share for the quarter, up from their prior forecast of $0.19. The consensus estimate for Barrick Gold’s current full-year earnings is $1.01 per share. Zacks Research also issued estimates for Barrick Gold’s Q3 2024 earnings at $0.23 EPS, Q4 2024 earnings at $0.24 EPS, FY2024 earnings at $0.87 EPS, Q2 2025 earnings at $0.29 EPS, Q3 2025 earnings at $0.27 EPS, Q4 2025 earnings at $0.37 EPS and FY2025 earnings at $1.12 EPS.

Other equities analysts also recently issued research reports about the stock. StockNews.com raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. BMO Capital Markets cut their price objective on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Jefferies Financial Group started coverage on shares of Barrick Gold in a research report on Thursday, February 29th. They issued a “buy” rating and a $21.00 target price for the company. Finally, Royal Bank of Canada restated an “outperform” rating and set a $18.00 price target on shares of Barrick Gold in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.60.

Barrick Gold Price Performance

GOLD opened at $17.02 on Friday. The company has a market capitalization of $29.88 billion, a P/E ratio of 20.76, a PEG ratio of 0.45 and a beta of 0.59. The company has a 50-day moving average of $16.89 and a 200-day moving average of $16.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32. Barrick Gold has a 1-year low of $13.76 and a 1-year high of $18.95.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 EPS.

Barrick Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a $0.10 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.35%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s payout ratio is currently 48.78%.

Institutional Trading of Barrick Gold

Several large investors have recently modified their holdings of GOLD. Creative Financial Designs Inc. ADV boosted its stake in shares of Barrick Gold by 7.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 9,100 shares of the gold and copper producer’s stock valued at $165,000 after purchasing an additional 600 shares during the last quarter. A. D. Beadell Investment Counsel Inc. lifted its stake in Barrick Gold by 1.2% in the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 59,825 shares of the gold and copper producer’s stock valued at $1,082,000 after acquiring an additional 700 shares in the last quarter. Fifth Third Bancorp boosted its position in Barrick Gold by 13.1% during the 3rd quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock worth $88,000 after acquiring an additional 702 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of Barrick Gold by 15.3% during the 1st quarter. Global Retirement Partners LLC now owns 5,434 shares of the gold and copper producer’s stock worth $90,000 after acquiring an additional 721 shares in the last quarter. Finally, Edge Wealth Management LLC raised its holdings in shares of Barrick Gold by 6.3% in the first quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock valued at $204,000 after purchasing an additional 725 shares during the last quarter. 62.85% of the stock is owned by institutional investors.

About Barrick Gold

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.