FY2021 EPS Estimates for Barrick Gold Corp (NYSE:GOLD) Boosted by Analyst

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Equities researchers at National Bank Financial raised their FY2021 earnings per share (EPS) estimates for Barrick Gold in a report released on Monday, June 7th. National Bank Financial analyst M. Parkin now forecasts that the gold and copper producer will post earnings of $1.35 per share for the year, up from their prior forecast of $1.19.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Tuesday, May 4th. The gold and copper producer reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. Barrick Gold had a return on equity of 7.18% and a net margin of 19.19%. The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.17 billion. During the same period in the previous year, the firm posted $0.16 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Barrick Gold from $30.00 to $25.00 in a report on Tuesday, April 27th. Canaccord Genuity reiterated a “buy” rating and issued a $42.00 target price on shares of Barrick Gold in a report on Thursday, February 11th. Raymond James upped their price target on Barrick Gold from $29.50 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday. TheStreet raised Barrick Gold from a “c” rating to a “b-” rating in a research report on Thursday, April 22nd. Finally, TD Securities reduced their target price on shares of Barrick Gold from $32.00 to $30.00 and set an “action list buy” rating on the stock in a report on Friday, February 26th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $32.72.

Shares of NYSE:GOLD opened at $23.71 on Wednesday. The stock has a market capitalization of $42.17 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 9.92 and a beta of 0.29. Barrick Gold has a 1 year low of $18.64 and a 1 year high of $31.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.77 and a quick ratio of 3.01. The stock’s 50-day simple moving average is $22.88.

Hedge funds have recently modified their holdings of the business. FWL Investment Management LLC purchased a new position in Barrick Gold during the 4th quarter worth approximately $2,875,000. Comerica Bank grew its position in shares of Barrick Gold by 3.9% during the fourth quarter. Comerica Bank now owns 96,412 shares of the gold and copper producer’s stock worth $2,263,000 after acquiring an additional 3,606 shares during the last quarter. Meridian Investment Counsel Inc. increased its holdings in shares of Barrick Gold by 1.2% in the 4th quarter. Meridian Investment Counsel Inc. now owns 59,953 shares of the gold and copper producer’s stock valued at $1,366,000 after acquiring an additional 700 shares during the period. Baker Tilly Financial LLC acquired a new stake in Barrick Gold during the 4th quarter worth $285,000. Finally, GSA Capital Partners LLP grew its position in Barrick Gold by 28.3% during the 4th quarter. GSA Capital Partners LLP now owns 9,200 shares of the gold and copper producer’s stock worth $210,000 after purchasing an additional 2,029 shares during the last quarter. 57.18% of the stock is currently owned by institutional investors.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Friday, May 28th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Thursday, May 27th. Barrick Gold’s dividend payout ratio (DPR) is 14.78%.

Barrick Gold Company Profile

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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Earnings History and Estimates for Barrick Gold (NYSE:GOLD)

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