FY2019 EPS Estimates for Barrick Gold Corp Increased by Cormark (TSE:ABX)

Barrick Gold Corp (TSE:ABX) (NYSE:ABX) – Equities research analysts at Cormark raised their FY2019 EPS estimates for shares of Barrick Gold in a research note issued to investors on Tuesday, August 13th. Cormark analyst R. Gray now expects that the basic materials company will post earnings of $0.54 per share for the year, up from their previous estimate of $0.41. Cormark also issued estimates for Barrick Gold’s Q1 2020 earnings at $0.19 EPS, Q2 2020 earnings at $0.19 EPS, Q3 2020 earnings at $0.19 EPS, Q4 2020 earnings at $0.19 EPS and FY2021 earnings at $0.73 EPS.

Other equities analysts have also issued reports about the stock. Canaccord Genuity upped their target price on shares of Barrick Gold from C$19.50 to C$21.00 in a research report on Friday, July 19th. BMO Capital Markets reiterated an “outperform” rating and set a C$20.00 target price on shares of Barrick Gold in a research report on Thursday, July 4th. Finally, Eight Capital upped their target price on shares of Barrick Gold from C$20.00 to C$28.00 in a research report on Thursday, August 8th.

Shares of Barrick Gold stock opened at C$24.49 on Wednesday. Barrick Gold has a 1-year low of C$12.54 and a 1-year high of C$24.67. The firm’s 50-day moving average price is C$22.13 and its two-hundred day moving average price is C$18.73. The stock has a market capitalization of $42.50 billion and a price-to-earnings ratio of -20.09. The company has a current ratio of 2.46, a quick ratio of 1.28 and a debt-to-equity ratio of 31.73.

Several hedge funds have recently made changes to their positions in the company. Hudock Capital Group LLC lifted its position in shares of Barrick Gold by 23.2% during the first quarter. Hudock Capital Group LLC now owns 3,336 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 628 shares in the last quarter. Cornerstone Advisors Inc. lifted its holdings in Barrick Gold by 48.7% in the first quarter. Cornerstone Advisors Inc. now owns 2,433 shares of the basic materials company’s stock valued at $33,000 after buying an additional 797 shares during the period. Cullen Frost Bankers Inc. lifted its holdings in Barrick Gold by 2.7% in the first quarter. Cullen Frost Bankers Inc. now owns 34,419 shares of the basic materials company’s stock valued at $472,000 after buying an additional 919 shares during the period. Rothschild Investment Corp IL lifted its holdings in Barrick Gold by 2.7% in the first quarter. Rothschild Investment Corp IL now owns 37,525 shares of the basic materials company’s stock valued at $514,000 after buying an additional 1,000 shares during the period. Finally, CWM LLC lifted its holdings in Barrick Gold by 100.1% in the first quarter. CWM LLC now owns 2,698 shares of the basic materials company’s stock valued at $37,000 after buying an additional 1,350 shares during the period.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a dividend of $0.053 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 0.87%. Barrick Gold’s payout ratio is -13.95%.

About Barrick Gold

Barrick Gold Corporation explores for and develops mineral properties. The company primarily explores for gold, copper, and silver deposits. It holds a 50% interest in the Veladero, a gold mine located in Argentina; 50% interest in the Kalgoorlie gold mine located in Australia; 95% interest in the Porgera 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 copper mine located in Saudi Arabia.

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Earnings History and Estimates for Barrick Gold (TSE:ABX)

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