Cormark Brokers Reduce Earnings Estimates for Barrick Gold

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Research analysts at Cormark dropped their Q1 2025 earnings estimates for shares of Barrick Gold in a report issued on Thursday, February 13th. Cormark analyst R. Gray now anticipates that the gold and copper producer will post earnings per share of $0.26 for the quarter, down from their prior forecast of $0.34. The consensus estimate for Barrick Gold’s current full-year earnings is $1.23 per share. Cormark also issued estimates for Barrick Gold’s Q2 2025 earnings at $0.30 EPS, Q3 2025 earnings at $0.31 EPS, Q4 2025 earnings at $0.36 EPS, FY2025 earnings at $1.23 EPS and FY2026 earnings at $1.19 EPS.

A number of other brokerages have also recently weighed in on GOLD. Citigroup dropped 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 report on Friday, December 20th. Berenberg Bank boosted their target price on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Scotiabank cut Barrick Gold from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $23.00 to $19.00 in a research note on Thursday, January 30th. CIBC cut Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Finally, UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Barrick Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.67.

Barrick Gold Stock Up 1.6 %

Shares of GOLD opened at $18.47 on Friday. The company’s 50-day moving average price is $16.20 and its 200 day moving average price is $18.17. Barrick Gold has a 12-month low of $13.76 and a 12-month high of $21.35. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. The firm has a market cap of $31.89 billion, a P/E ratio of 19.85, a price-to-earnings-growth ratio of 0.39 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. Barrick Gold had a return on equity of 5.82% and a net margin of 13.19%.

Institutional Trading of Barrick Gold

Several hedge funds have recently added to or reduced their stakes in GOLD. Crowley Wealth Management Inc. purchased a new stake in shares of Barrick Gold in the 4th quarter valued at approximately $26,000. Exchange Traded Concepts LLC grew its stake in shares of Barrick Gold by 198.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after purchasing an additional 935 shares in the last quarter. Eastern Bank purchased a new position in Barrick Gold in the third quarter valued at $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in Barrick Gold in the fourth quarter valued at $37,000. Finally, JFS Wealth Advisors LLC lifted its holdings in Barrick Gold by 451.7% during the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock worth $38,000 after buying an additional 1,563 shares during the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold declared that its board has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the gold and copper producer to reacquire up to 3.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.17%. Barrick Gold’s payout ratio is 32.52%.

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.