Stifel Canada Forecasts Barrick Gold FY2028 Earnings

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Stifel Canada issued their FY2028 earnings estimates for Barrick Gold in a note issued to investors on Wednesday, March 19th. Stifel Canada analyst R. Profiti forecasts 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 posted its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%.

GOLD has been the topic of several other reports. Raymond James dropped their target price on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Cibc World Mkts cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Citigroup decreased 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. Finally, Scotiabank increased their price target on shares of Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.75.

Barrick Gold Stock Down 2.2 %

Shares of Barrick Gold stock opened at $18.86 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. Barrick Gold has a 1 year low of $0.25 and a 1 year high of $21.35. The firm’s 50-day moving average is $17.50 and its two-hundred day moving average is $18.05. The stock has a market cap of $32.54 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 0.44 and a beta of 0.58.

Hedge Funds Weigh In On Barrick Gold

A number of institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp raised its position in Barrick Gold by 2.1% during the 4th quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer’s stock worth $1,182,641,000 after buying an additional 1,563,361 shares during the last quarter. Vanguard Group Inc. raised its position in Barrick Gold by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 68,358,533 shares of the gold and copper producer’s stock worth $1,060,036,000 after buying an additional 1,195,585 shares during the last quarter. Wellington Management Group LLP raised its position in Barrick Gold by 17.5% during the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer’s stock worth $996,802,000 after buying an additional 9,598,292 shares during the last quarter. Capital International Investors raised its position in Barrick Gold by 136.1% during the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer’s stock worth $516,055,000 after buying an additional 19,189,830 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Barrick Gold by 1.9% during the 4th quarter. Mackenzie Financial Corp now owns 15,318,376 shares of the gold and copper producer’s stock worth $237,280,000 after purchasing an additional 278,292 shares during the period. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Friday, February 28th. Barrick Gold’s payout ratio is currently 32.52%.

Barrick Gold announced that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding 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 programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.