Analysts Set Expectations for Barrick Gold FY2028 Earnings

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Stifel Canada issued their FY2028 earnings per share estimates for shares of Barrick Gold in a report released on Wednesday, March 19th. Stifel Canada analyst R. Profiti anticipates that the gold and copper producer will earn $1.44 per share for the year. Stifel Canada currently has a “Strong-Buy” rating on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $1.47 per share.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%.

GOLD has been the topic of several other reports. Citigroup dropped their price target on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Scotiabank upped their price target on Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 18th. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. UBS Group raised Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Wednesday, March 5th. Finally, Berenberg Bank increased their target price on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.75.

Barrick Gold Stock Performance

GOLD stock opened at $19.41 on Thursday. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. The firm has a market cap of $33.49 billion, a P/E ratio of 15.78, a P/E/G ratio of 0.44 and a beta of 0.58. Barrick Gold has a 12-month low of $0.25 and a 12-month high of $21.35. The stock’s 50 day simple moving average is $17.37 and its 200 day simple moving average is $18.05.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GOLD. Capital International Investors increased its holdings in shares of Barrick Gold by 136.1% during the fourth quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer’s stock valued at $516,055,000 after purchasing an additional 19,189,830 shares during the period. Causeway Capital Management LLC bought a new position in Barrick Gold during the fourth quarter valued at about $172,225,000. Wellington Management Group LLP boosted its stake in Barrick Gold by 17.5% during the fourth quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer’s stock valued at $996,802,000 after buying an additional 9,598,292 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Barrick Gold by 221.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock valued at $199,427,000 after buying an additional 6,904,934 shares in the last quarter. Finally, FIL Ltd boosted its stake in Barrick Gold by 236.7% during the fourth quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer’s stock valued at $105,692,000 after buying an additional 4,791,663 shares in the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

Barrick Gold declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the gold and copper producer to reacquire up to 3.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Barrick Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Friday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is 32.52%.

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.