Q1 2023 EPS Estimates for Barrick Gold Corp (NYSE:GOLD) Reduced by Analyst

Posted by on Apr 7th, 2023

Barrick Gold Corp (NYSE:GOLD – Get Rating) (TSE:ABX) – Analysts at Jefferies Financial Group decreased their Q1 2023 earnings per share (EPS) estimates for Barrick Gold in a report issued on Monday, April 3rd. Jefferies Financial Group analyst C. Lafemina now expects that the gold and copper producer will post earnings of $0.16 per share for the quarter, down from their previous estimate of $0.21. The consensus estimate for Barrick Gold’s current full-year earnings is $0.89 per share. Jefferies Financial Group also issued estimates for Barrick Gold’s Q2 2023 earnings at $0.20 EPS, Q3 2023 earnings at $0.23 EPS and Q4 2023 earnings at $0.26 EPS.

Barrick Gold (NYSE:GOLD – Get Rating) (TSE:ABX) last released its quarterly earnings results on Wednesday, February 15th. The gold and copper producer reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. Barrick Gold had a return on equity of 4.12% and a net margin of 3.92%. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the prior year, the company posted $0.35 EPS. The firm’s revenue was down 16.2% on a year-over-year basis.

A number of other brokerages have also recently issued reports on GOLD. BNP Paribas cut Barrick Gold from an “outperform” rating to a “neutral” rating and set a $19.00 target price for the company. in a report on Monday, February 13th. National Bank Financial decreased their price objective on Barrick Gold from C$29.00 to C$28.00 in a research report on Thursday, February 23rd. Barclays increased their price objective on Barrick Gold from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, January 30th. Fundamental Research set a $19.02 price target on Barrick Gold and gave the stock a “buy” rating in a research report on Tuesday, March 7th. Finally, Raymond James reduced their price target on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Thursday, February 16th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.60.

Barrick Gold Trading Up 0.3 %

Barrick Gold stock opened at $19.73 on Thursday. The business has a 50 day moving average price of $17.69 and a two-hundred day moving average price of $16.88. The company has a quick ratio of 2.14, a current ratio of 2.71 and a debt-to-equity ratio of 0.15. The stock has a market cap of $34.63 billion, a price-to-earnings ratio of 82.21, a price-to-earnings-growth ratio of 8.94 and a beta of 0.33. Barrick Gold has a 12 month low of $13.01 and a 12 month high of $25.99.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. CoreCap Advisors LLC acquired a new stake in Barrick Gold during the 4th quarter worth about $25,000. Hexagon Capital Partners LLC grew its position in Barrick Gold by 355.1% in the third quarter. Hexagon Capital Partners LLC now owns 1,661 shares of the gold and copper producer’s stock worth $26,000 after acquiring an additional 1,296 shares in the last quarter. RFP Financial Group LLC bought a new stake in Barrick Gold in the fourth quarter worth $30,000. Chilton Capital Management LLC bought a new position in shares of Barrick Gold during the second quarter valued at about $35,000. Finally, FNY Investment Advisers LLC raised its stake in shares of Barrick Gold by 82.2% during the fourth quarter. FNY Investment Advisers LLC now owns 2,150 shares of the gold and copper producer’s stock valued at $36,000 after acquiring an additional 970 shares during the last quarter. 56.82% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Monday, February 27th. Barrick Gold’s dividend payout ratio (DPR) is currently 166.67%.

Barrick Gold Company Profile

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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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Earnings History and Estimates for Barrick Gold (NYSE:GOLD)

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