Wall Street brokerages expect that Barrick Gold Corp (NYSE:ABX) (TSE:ABX) will post $0.12 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Barrick Gold’s earnings, with the lowest EPS estimate coming in at $0.07 and the highest estimate coming in at $0.22. Barrick Gold posted earnings of $0.16 per share in the same quarter last year, which would suggest a negative year over year growth rate of 25%. The business is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, October 24th.
According to Zacks, analysts expect that Barrick Gold will report full year earnings of $0.54 per share for the current fiscal year, with EPS estimates ranging from $0.39 to $0.85. For the next financial year, analysts forecast that the business will report earnings of $0.55 per share, with EPS estimates ranging from $0.29 to $0.86. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Barrick Gold.
Barrick Gold (NYSE:ABX) (TSE:ABX) last released its earnings results on Wednesday, July 25th. The basic materials company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.05). The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Barrick Gold had a negative net margin of 3.38% and a positive return on equity of 6.13%. The business’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 earnings per share.
Several equities analysts have recently commented on ABX shares. Citigroup upgraded Barrick Gold from a “sell” rating to a “neutral” rating and set a $11.00 target price for the company in a research note on Tuesday, August 28th. Royal Bank of Canada cut Barrick Gold from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $16.00 to $14.00 in a research note on Monday, July 30th. TD Securities upgraded Barrick Gold from a “hold” rating to a “buy” rating and increased their target price for the company from $13.50 to $14.00 in a research note on Tuesday, September 25th. JPMorgan Chase & Co. reduced their target price on Barrick Gold from $15.50 to $13.00 and set a “neutral” rating for the company in a research note on Monday, September 17th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $15.00 target price on shares of Barrick Gold in a research note on Friday, September 21st. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $15.14.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Rathbone Brothers plc boosted its position in Barrick Gold by 15.0% during the 3rd quarter. Rathbone Brothers plc now owns 46,098 shares of the basic materials company’s stock worth $510,000 after acquiring an additional 6,000 shares during the period. Lourd Capital LLC acquired a new stake in Barrick Gold during the 3rd quarter worth about $151,000. Centre Asset Management LLC acquired a new stake in Barrick Gold during the 3rd quarter worth about $6,960,000. Northern Trust Corp boosted its position in Barrick Gold by 13.8% during the 2nd quarter. Northern Trust Corp now owns 1,183,805 shares of the basic materials company’s stock worth $15,545,000 after acquiring an additional 143,530 shares during the period. Finally, HRT Financial LLC acquired a new stake in Barrick Gold during the 2nd quarter worth about $172,000. Hedge funds and other institutional investors own 52.65% of the company’s stock.
Shares of Barrick Gold stock traded down $0.11 on Monday, hitting $12.47. 25,594,411 shares of the company’s stock traded hands, compared to its average volume of 12,634,223. The stock has a market cap of $12.93 billion, a P/E ratio of 16.63, a price-to-earnings-growth ratio of 9.05 and a beta of -0.37. The company has a current ratio of 2.12, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51. Barrick Gold has a 52-week low of $9.53 and a 52-week high of $16.83.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Friday, August 31st were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.96%. The ex-dividend date was Thursday, August 30th. Barrick Gold’s dividend payout ratio (DPR) is presently 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.
See Also: Cash Flow Analysis in Stock Selection
Get a free copy of the Zacks research report on Barrick Gold (ABX)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Barrick Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barrick Gold and related companies with MarketBeat.com's FREE daily email newsletter.