Barrick Gold (TSE:ABX) Posts Quarterly Earnings Results

Barrick Gold (TSE:ABX) (NYSE:ABX) announced its earnings results on Monday. The basic materials company reported C$1.17 earnings per share (EPS) for the quarter, reports. The company had revenue of C$6.06 billion during the quarter. Barrick Gold had a net margin of 32.14% and a return on equity of 23.58%.

Barrick Gold Stock Down 2.1%

Shares of TSE ABX opened at C$55.81 on Wednesday. The stock has a market capitalization of C$93.51 billion, a PE ratio of 15.42, a P/E/G ratio of 2.34 and a beta of 1.60. The company has a quick ratio of 2.62, a current ratio of 3.06 and a debt-to-equity ratio of 17.29. The firm has a fifty day moving average of C$53.87 and a 200-day moving average of C$57.98. Barrick Gold has a 52-week low of C$31.62 and a 52-week high of C$74.00.

Barrick Gold News Summary

Here are the key news stories impacting Barrick Gold this week:

• Positive Sentiment: National Bank Financial raised its price target to C$70.00 from C$67.50 and maintained an “outperform” rating, implying substantial upside from the current trading level. BayStreet.CA analyst ratings
• Positive Sentiment: Barrick reached a reworked agreement with Newmont regarding Nevada Gold Mines. The $1.95 billion transaction is expected to clear the way for a year-end North American gold IPO, potentially unlocking value from the assets and improving Barrick’s strategic flexibility. The Globe and Mail article
• Neutral Sentiment: ATB Cormark lowered its price target to C$57.00 from C$60.00 and assigned a “sector perform” rating. The revised target still indicates modest potential upside, suggesting a cautious view rather than a strongly bearish outlook. BayStreet.CA analyst ratings
• Negative Sentiment: Raymond James cut its target to C$56.00 from C$58.00, although it retained an “outperform” rating. The new target is approximately in line with the current share price, reducing the near-term valuation cushion. BayStreet.CA analyst ratings
• Negative Sentiment: Barrick reported C$1.17 in quarterly EPS and C$6.06 billion in revenue, but results missed analysts’ profit expectations. The earnings shortfall is likely weighing on sentiment despite a 23.58% return on equity and 32.14% net margin. Reuters earnings article

Wall Street Analyst Weigh In

ABX has been the subject of a number of analyst reports. Citigroup cut their price target on Barrick Gold from C$48.00 to C$41.00 and set a “neutral” rating for the company in a report on Monday, July 27th. Raymond James Financial cut their target price on shares of Barrick Gold from C$58.00 to C$56.00 and set an “outperform” rating for the company in a research note on Tuesday. ATB Cormark Capital Markets decreased their price target on shares of Barrick Gold from C$60.00 to C$57.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Sanford C. Bernstein boosted their price objective on shares of Barrick Gold from C$86.00 to C$91.00 in a research report on Monday, April 20th. Finally, National Bank Financial lifted their target price on shares of Barrick Gold from C$67.50 to C$70.00 and gave the stock an “outperform” rating in a research note on Tuesday. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$67.75.

Insider Transactions at Barrick Gold

In other Barrick Gold news, Director Robert Ananda Paul Samek bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average price of C$55.06 per share, with a total value of C$550,600.00. Following the transaction, the director owned 18,900 shares in the company, valued at C$1,040,634. This trade represents a 112.36% increase in their ownership of the stock. Also, Director Mark Francis Hill sold 9,453 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of C$56.85, for a total transaction of C$537,403.05. Following the completion of the transaction, the director owned 334,176 shares in the company, valued at C$18,997,905.60. The trade was a 2.75% decrease in their position. In the last three months, insiders have sold 134,422 shares of company stock valued at $7,695,879. 0.60% of the stock is owned by company insiders.

About Barrick Gold

Barrick is a leading global mining, exploration and development company. With one of the largest portfolios of world-class and long-life gold and copper assets in the industry – including six of the world’s Tier One gold mines -Barrick’s operations and projects span 18 countries and five continents. Barrick is also the largest gold producer in the United States. We create real, long-term value for all stakeholders through responsible mining, strong partnerships and a disciplined approach to growth.