Barrick Gold Corp (NYSE:GOLD) Expected to Earn Q1 2024 Earnings of $0.15 Per Share

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Research analysts at National Bank Financial issued their Q1 2024 EPS estimates for shares of Barrick Gold in a report released on Thursday, April 18th. National Bank Financial analyst M. Parkin anticipates that the gold and copper producer will post earnings of $0.15 per share for the quarter. National Bank Financial currently has a “Sector Perform Overweight” rating on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $0.90 per share. National Bank Financial also issued estimates for Barrick Gold’s FY2024 earnings at $0.84 EPS and FY2025 earnings at $1.10 EPS.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.06. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. During the same quarter in the previous year, the company posted $0.13 EPS.

Other research analysts also recently issued reports about the stock. Argus reissued a “hold” rating on shares of Barrick Gold in a research report on Monday, February 26th. BMO Capital Markets dropped their target price on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. StockNews.com raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. TD Securities dropped their target price on shares of Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Finally, Jefferies Financial Group began 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 on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.06.

Barrick Gold Stock Performance

Barrick Gold stock opened at $16.69 on Monday. The firm’s 50 day simple moving average is $15.99 and its 200-day simple moving average is $16.28. The company has a market cap of $29.30 billion, a P/E ratio of 23.18, a price-to-earnings-growth ratio of 1.59 and a beta of 0.58. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.16 and a quick ratio of 2.40. Barrick Gold has a fifty-two week low of $13.76 and a fifty-two week high of $20.75.

Barrick Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.074 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Wednesday, February 28th. Barrick Gold’s payout ratio is presently 55.56%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GOLD. Principal Securities Inc. bought a new stake in Barrick Gold in the fourth quarter worth approximately $26,000. EverSource Wealth Advisors LLC grew its position in Barrick Gold by 175.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after acquiring an additional 1,143 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in Barrick Gold in the fourth quarter worth approximately $35,000. Mark Sheptoff Financial Planning LLC bought a new stake in Barrick Gold in the fourth quarter worth approximately $45,000. Finally, Optiver Holding B.V. bought a new stake in Barrick Gold in the fourth quarter worth approximately $46,000. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Company Profile

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.