Research Analysts Offer Predictions for Barrick Gold Corporation’s FY2020 Earnings (ABX)

Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) – Analysts at Jefferies Group issued their FY2020 earnings estimates for shares of Barrick Gold Corporation in a research report issued to clients and investors on Wednesday. Jefferies Group analyst C. Lafemina expects that the basic materials company will post earnings per share of $0.97 for the year. Jefferies Group has a “Buy” rating and a $20.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the company. TD Securities reaffirmed a “hold” rating on shares of Barrick Gold Corporation in a research report on Sunday, May 28th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $21.00 target price on shares of Barrick Gold Corporation in a research report on Tuesday, July 18th. Raymond James Financial, Inc. reaffirmed a “market perform” rating and issued a $19.00 target price on shares of Barrick Gold Corporation in a research report on Thursday, June 15th. Zacks Investment Research downgraded Barrick Gold Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, Berenberg Bank raised Barrick Gold Corporation from a “sell” rating to a “hold” rating and upped their target price for the stock from $16.13 to $16.40 in a research report on Thursday, June 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $22.16.

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Barrick Gold Corporation (NYSE ABX) traded up 2.06% during trading on Friday, hitting $16.87. The stock had a trading volume of 12,817,109 shares. The stock’s 50-day moving average is $16.00 and its 200 day moving average is $17.57. The firm has a market cap of $19.67 billion, a price-to-earnings ratio of 13.94 and a beta of -0.25. Barrick Gold Corporation has a one year low of $13.81 and a one year high of $22.94.

Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last released its quarterly earnings results on Wednesday, July 26th. The basic materials company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Barrick Gold Corporation had a return on equity of 8.34% and a net margin of 16.44%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.14 EPS.

A number of hedge funds have recently made changes to their positions in ABX. Van ECK Associates Corp increased its stake in shares of Barrick Gold Corporation by 5.5% in the first quarter. Van ECK Associates Corp now owns 74,763,721 shares of the basic materials company’s stock worth $1,419,763,000 after buying an additional 3,877,115 shares during the last quarter. Flossbach Von Storch AG increased its stake in shares of Barrick Gold Corporation by 104.8% in the second quarter. Flossbach Von Storch AG now owns 26,529,688 shares of the basic materials company’s stock worth $422,088,000 after buying an additional 13,576,086 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Barrick Gold Corporation by 4.2% in the first quarter. Vanguard Group Inc. now owns 26,244,966 shares of the basic materials company’s stock worth $498,391,000 after buying an additional 1,052,610 shares during the last quarter. BlackRock Inc. increased its stake in shares of Barrick Gold Corporation by 40,554.0% in the first quarter. BlackRock Inc. now owns 23,482,163 shares of the basic materials company’s stock worth $445,925,000 after buying an additional 23,424,402 shares during the last quarter. Finally, Majedie Asset Management Ltd increased its stake in shares of Barrick Gold Corporation by 7.8% in the second quarter. Majedie Asset Management Ltd now owns 18,856,140 shares of the basic materials company’s stock worth $300,001,000 after buying an additional 1,360,514 shares during the last quarter. Hedge funds and other institutional investors own 57.69% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.71%. The ex-dividend date is Tuesday, August 29th. Barrick Gold Corporation’s payout ratio is currently 5.94%.

About Barrick Gold Corporation

Barrick Gold Corporation (Barrick) is a gold mining company. The Company is principally engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company’s segments include Goldstrike, Cortez, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Acacia Mining plc (Acacia), Pascua-Lama and Other Mines.

Earnings History and Estimates for Barrick Gold Corporation (NYSE:ABX)

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