Barrick Gold Corp (NYSE:GOLD – Get Rating) (TSE:ABX) – Research analysts at Jefferies Financial Group decreased their FY2022 earnings per share (EPS) estimates for Barrick Gold in a research report issued on Tuesday, September 27th. Jefferies Financial Group analyst C. Lafemina now anticipates that the gold and copper producer will earn $1.15 per share for the year, down from their prior forecast of $1.22. The consensus estimate for Barrick Gold’s current full-year earnings is $1.02 per share. Jefferies Financial Group also issued estimates for Barrick Gold’s FY2023 earnings at $1.19 EPS.
Several other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group started coverage on Barrick Gold in a research note on Monday, September 12th. They set a “neutral” rating and a $18.00 target price for the company. TheStreet cut Barrick Gold from a “b-” rating to a “c+” rating in a research note on Friday, July 29th. BMO Capital Markets increased their price target on Barrick Gold from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Tuesday, August 9th. Barclays dropped their price target on Barrick Gold from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. Finally, National Bank Financial lowered their target price on Barrick Gold from C$34.00 to C$26.00 in a research report on Thursday, July 21st. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $27.17.
Barrick Gold Stock Up 2.6 %
NYSE GOLD opened at $15.50 on Thursday. The business has a fifty day moving average price of $15.56 and a two-hundred day moving average price of $19.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.95 and a quick ratio of 3.19. Barrick Gold has a fifty-two week low of $13.97 and a fifty-two week high of $26.07. The stock has a market capitalization of $27.39 billion, a PE ratio of 13.72, a PEG ratio of 7.36 and a beta of 0.33.
Barrick Gold (NYSE:GOLD – Get Rating) (TSE:ABX) last issued its quarterly earnings results on Monday, August 8th. The gold and copper producer reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. Barrick Gold had a return on equity of 5.95% and a net margin of 16.87%. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the prior year, the business posted $0.29 earnings per share. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year.
Barrick Gold Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a $0.156 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.62 annualized dividend and a dividend yield of 4.03%. Barrick Gold’s dividend payout ratio is presently 35.40%.
Hedge Funds Weigh In On Barrick Gold
Several large investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. lifted its position in Barrick Gold by 13.3% in the 2nd quarter. Federated Hermes Inc. now owns 3,255,100 shares of the gold and copper producer’s stock valued at $57,583,000 after acquiring an additional 382,700 shares in the last quarter. Private Trust Co. NA bought a new position in shares of Barrick Gold during the 2nd quarter worth approximately $74,000. Brown Advisory Inc. lifted its position in shares of Barrick Gold by 7.8% during the 2nd quarter. Brown Advisory Inc. now owns 19,378 shares of the gold and copper producer’s stock worth $343,000 after buying an additional 1,400 shares in the last quarter. Hussman Strategic Advisors Inc. lifted its position in shares of Barrick Gold by 40.6% during the 2nd quarter. Hussman Strategic Advisors Inc. now owns 684,000 shares of the gold and copper producer’s stock worth $12,100,000 after buying an additional 197,600 shares in the last quarter. Finally, Amundi lifted its position in shares of Barrick Gold by 10.8% during the 2nd quarter. Amundi now owns 8,575,600 shares of the gold and copper producer’s stock worth $135,238,000 after buying an additional 838,096 shares in the last quarter. Institutional investors own 58.03% 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.
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