Stifel Canada Has Negative View of Barrick Gold Q4 Earnings

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Stifel Canada cut their Q4 2024 EPS estimates for Barrick Gold in a research report issued on Tuesday, February 4th. Stifel Canada analyst I. Rico now anticipates that the gold and copper producer will earn $0.41 per share for the quarter, down from their previous estimate of $0.53. The consensus estimate for Barrick Gold’s current full-year earnings is $1.25 per share. Stifel Canada also issued estimates for Barrick Gold’s FY2026 earnings at $1.55 EPS.

A number of other brokerages have also weighed in on GOLD. CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Bank of America lowered Barrick Gold from a “buy” rating to a “neutral” rating and cut their price target for the stock from $21.00 to $18.00 in a report on Monday, January 27th. Raymond James cut their price target on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday. UBS Group cut Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price target for the company from $23.00 to $22.00 in a report on Wednesday, October 30th. Finally, Citigroup cut their price target on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Barrick Gold has a consensus rating of “Moderate Buy” and a consensus price target of $23.83.

Barrick Gold Stock Performance

NYSE:GOLD opened at $17.04 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. The company has a market capitalization of $29.42 billion, a P/E ratio of 18.32, a P/E/G ratio of 0.36 and a beta of 0.55. Barrick Gold has a 1 year low of $13.76 and a 1 year high of $21.35. The business has a fifty day simple moving average of $16.20 and a two-hundred day simple moving average of $18.19.

Hedge Funds Weigh In On Barrick Gold

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp grew its stake in shares of Barrick Gold by 2.1% during the 4th quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer’s stock valued at $1,182,641,000 after purchasing an additional 1,563,361 shares during the period. Wellington Management Group LLP boosted its stake in shares of Barrick Gold by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock worth $1,088,484,000 after acquiring an additional 1,458,084 shares during the last quarter. Amundi increased its stake in shares of Barrick Gold by 1.7% in the 4th quarter. Amundi now owns 14,120,278 shares of the gold and copper producer’s stock worth $223,665,000 after purchasing an additional 236,116 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Barrick Gold by 33.3% during the third quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock valued at $227,524,000 after purchasing an additional 2,854,055 shares during the period. Finally, Ruffer LLP increased its position in Barrick Gold by 14.8% in the fourth quarter. Ruffer LLP now owns 10,269,848 shares of the gold and copper producer’s stock worth $159,180,000 after buying an additional 1,325,119 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

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.