$0.15 Earnings Per Share Expected for Barrick Gold Corp (ABX) This Quarter

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Analysts forecast that Barrick Gold Corp (NYSE:ABX) (TSE:ABX) will announce earnings per share of $0.15 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Barrick Gold’s earnings. The highest EPS estimate is $0.21 and the lowest is $0.08. Barrick Gold posted earnings of $0.16 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 6.3%. The firm is expected to report its next quarterly earnings report before the market opens on Wednesday, October 24th.

On average, analysts expect that Barrick Gold will report full year earnings of $0.60 per share for the current fiscal year, with EPS estimates ranging from $0.37 to $0.85. For the next fiscal year, analysts anticipate that the company will post earnings of $0.59 per share, with EPS estimates ranging from $0.39 to $0.86. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Barrick Gold.

Barrick Gold (NYSE:ABX) (TSE:ABX) last released its quarterly earnings data on Wednesday, July 25th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.05). Barrick Gold had a negative net margin of 3.38% and a positive return on equity of 6.13%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the business earned $0.22 EPS. The company’s quarterly revenue was down 20.7% on a year-over-year basis.

Several brokerages recently weighed in on ABX. TD Securities set a $14.00 price target on shares of Barrick Gold and gave the stock a “hold” rating in a research report on Monday, July 30th. Citigroup upgraded shares of Barrick Gold from a “sell” rating to a “neutral” rating and set a $11.00 price target on the stock in a research report on Tuesday, August 28th. JPMorgan Chase & Co. reduced their price target on shares of Barrick Gold from $15.50 to $13.00 and set a “neutral” rating on the stock in a research report on Monday. Royal Bank of Canada cut shares of Barrick Gold from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $16.00 to $14.00 in a research report on Monday, July 30th. Finally, ValuEngine cut shares of Barrick Gold from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 26th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the company. Barrick Gold currently has an average rating of “Hold” and an average target price of $15.00.

Several institutional investors and hedge funds have recently modified their holdings of ABX. Stevens Capital Management LP purchased a new stake in Barrick Gold in the second quarter worth about $1,582,000. State of Wisconsin Investment Board lifted its stake in Barrick Gold by 4.6% in the second quarter. State of Wisconsin Investment Board now owns 940,726 shares of the basic materials company’s stock worth $12,350,000 after acquiring an additional 41,140 shares during the period. Toronto Dominion Bank lifted its stake in Barrick Gold by 144.4% in the second quarter. Toronto Dominion Bank now owns 7,729,036 shares of the basic materials company’s stock worth $103,335,000 after acquiring an additional 4,567,102 shares during the period. Bridgewater Associates LP lifted its stake in Barrick Gold by 221.5% in the second quarter. Bridgewater Associates LP now owns 507,501 shares of the basic materials company’s stock worth $6,663,000 after acquiring an additional 349,625 shares during the period. Finally, Trexquant Investment LP purchased a new stake in Barrick Gold in the second quarter worth about $224,000. 52.66% of the stock is owned by hedge funds and other institutional investors.

ABX traded down $0.22 during trading hours on Friday, hitting $10.40. The company’s stock had a trading volume of 474,218 shares, compared to its average volume of 12,064,034. Barrick Gold has a 12 month low of $9.53 and a 12 month high of $16.83. The stock has a market capitalization of $12.37 billion, a PE ratio of 13.73, a P/E/G ratio of 8.88 and a beta of -0.37. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 2.12.

The business also recently announced a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, August 31st were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Thursday, August 30th. Barrick Gold’s dividend payout ratio is currently 16.00%.

About Barrick Gold

Barrick Gold Corporation engages in the exploration and development of mineral properties. It primarily explores for gold and copper deposits. The company holds a 50% interest in the Veladero mine located in the San Juan Province of Argentina; 50% interest in the KCGM, a gold mine located in Australia; 95% interest in Porgera, a gold mine located in Papua New Guinea; 50% interest in the Zaldívar, a copper mine located in Chile; and 50% interest in the Jabal Sayid, a copper mine located in Saudi Arabia.

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