Barrick Gold Corp (NYSE:GOLD – Free Report) (TSE:ABX) – Investment analysts at Stifel Canada issued their Q2 2024 earnings per share estimates for Barrick Gold in a research report issued to clients and investors on Thursday, July 18th. Stifel Canada analyst I. Rico forecasts that the gold and copper producer will post earnings per share of $0.30 for the quarter. The consensus estimate for Barrick Gold’s current full-year earnings is $1.12 per share.
Barrick Gold (NYSE:GOLD – Get Free Report) (TSE:ABX) last issued its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.04. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $0.14 EPS.
Several other equities research analysts have also commented on GOLD. BMO Capital Markets cut their price target 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 lifted their target price on Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. CIBC upped their target price on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Finally, National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, Barrick Gold presently has an average rating of “Moderate Buy” and a consensus price target of $22.20.
Check Out Our Latest Research Report on Barrick Gold
Barrick Gold Stock Down 0.8 %
GOLD stock opened at $18.39 on Monday. The company’s 50 day moving average is $17.17 and its two-hundred day moving average is $16.47. Barrick Gold has a twelve month low of $13.76 and a twelve month high of $19.45. The company has a current ratio of 3.32, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. The stock has a market cap of $32.23 billion, a P/E ratio of 22.43, a PEG ratio of 0.50 and a beta of 0.51.
Institutional Trading of Barrick Gold
Several hedge funds have recently made changes to their positions in GOLD. A. D. Beadell Investment Counsel Inc. grew its holdings in Barrick Gold by 1.2% during the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 59,825 shares of the gold and copper producer’s stock worth $1,082,000 after acquiring an additional 700 shares during the period. Global Retirement Partners LLC boosted its position 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 purchasing an additional 721 shares in the last quarter. Edge Wealth Management LLC grew its stake in shares of Barrick Gold by 6.3% during the 1st quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock worth $204,000 after purchasing an additional 725 shares during the period. Greenleaf Trust lifted its stake in shares of Barrick Gold by 3.5% in the first quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer’s stock valued at $418,000 after purchasing an additional 838 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co boosted its holdings in Barrick Gold by 2.4% during the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,519 shares of the gold and copper producer’s stock worth $608,000 after buying an additional 850 shares in the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.
Barrick Gold Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, May 31st. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio (DPR) is 48.78%.
Barrick Gold Company Profile
(Get Free Report)
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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