Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Raymond James lowered their Q3 2021 earnings per share estimates for Barrick Gold in a research report issued on Wednesday, October 13th. Raymond James analyst B. Macarthur now forecasts that the gold and copper producer will post earnings of $0.26 per share for the quarter, down from their previous estimate of $0.34. Raymond James has a “Outperform” rating and a $27.50 price objective on the stock. Raymond James also issued estimates for Barrick Gold’s Q4 2021 earnings at $0.29 EPS, Q1 2022 earnings at $0.24 EPS, Q3 2022 earnings at $0.27 EPS and FY2022 earnings at $1.04 EPS.
GOLD has been the subject of several other reports. National Bankshares decreased their price target on shares of Barrick Gold from C$37.00 to C$36.00 and set an “outperform” rating for the company in a research note on Friday, September 10th. National Bank Financial decreased their price target on shares of Barrick Gold from C$38.00 to C$37.00 and set an “outperform” rating for the company in a research note on Monday, August 23rd. UBS Group reaffirmed a “buy” rating and set a $25.00 price target on shares of Barrick Gold in a research note on Tuesday, August 3rd. TD Securities decreased their price target on shares of Barrick Gold from $29.00 to $27.00 and set an “action list buy” rating for the company in a research note on Tuesday, August 10th. Finally, KeyCorp assumed coverage on shares of Barrick Gold in a research note on Friday, September 24th. They set a “sector weight” rating for the company. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $34.27.
Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its earnings results on Sunday, August 8th. The gold and copper producer reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. Barrick Gold had a return on equity of 7.40% and a net margin of 19.86%. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the prior year, the business earned $0.23 EPS. Barrick Gold’s revenue for the quarter was down 5.3% compared to the same quarter last year.
Institutional investors have recently made changes to their positions in the business. Clearline Capital LP acquired a new stake in Barrick Gold during the 1st quarter valued at $4,721,000. Optiver Holding B.V. acquired a new stake in Barrick Gold during the 1st quarter valued at $45,972,000. Dimensional Fund Advisors LP lifted its holdings in shares of Barrick Gold by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,686,251 shares of the gold and copper producer’s stock worth $33,388,000 after buying an additional 92,907 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of Barrick Gold by 51.8% during the second quarter. Jupiter Asset Management Ltd. now owns 5,439,628 shares of the gold and copper producer’s stock worth $112,492,000 after buying an additional 1,855,845 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Barrick Gold during the first quarter worth $1,248,000. 54.50% of the stock is owned by institutional investors and hedge funds.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Tuesday, August 31st were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Monday, August 30th. Barrick Gold’s dividend payout ratio is 31.30%.
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.
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