Cormark Comments on Barrick Gold Corp’s FY2019 Earnings (TSE:ABX)

Barrick Gold Corp (TSE:ABX) (NYSE:ABX) – Cormark upped their FY2019 earnings estimates for Barrick Gold in a research note issued to investors on Tuesday, November 12th. Cormark analyst R. Gray now anticipates that the basic materials company will earn $0.69 per share for the year, up from their previous forecast of $0.54. Cormark also issued estimates for Barrick Gold’s Q1 2020 earnings at $0.18 EPS, Q2 2020 earnings at $0.18 EPS, Q3 2020 earnings at $0.18 EPS and Q4 2020 earnings at $0.18 EPS.

A number of other brokerages have also recently commented on ABX. Macquarie reiterated an “outperform” rating and set a C$28.50 price target on shares of Barrick Gold in a research report on Friday, September 13th. Canaccord Genuity increased their price target on shares of Barrick Gold from C$21.00 to C$22.00 in a research report on Monday, September 16th. Eight Capital increased their price target on shares of Barrick Gold from C$20.00 to C$28.00 in a research report on Thursday, August 8th. National Bank Financial increased their price target on shares of Barrick Gold from C$31.00 to C$34.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Finally, Accountability Research upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a C$27.00 price target on the stock in a research report on Thursday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of C$23.57.

ABX stock opened at C$21.91 on Friday. The company has a current ratio of 2.99, a quick ratio of 1.47 and a debt-to-equity ratio of 19.58. The company’s 50 day moving average is C$22.57 and its 200 day moving average is C$21.34. The stock has a market cap of $39.09 billion and a price-to-earnings ratio of 25.42. Barrick Gold has a 1-year low of C$15.37 and a 1-year high of C$26.69.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, November 28th. Barrick Gold’s payout ratio is currently 20.88%.

In related news, Senior Officer Mark Francis Hill acquired 20,373 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was purchased at an average price of C$24.03 per share, with a total value of C$489,563.19. Following the completion of the purchase, the insider now owns 38,826 shares in the company, valued at approximately C$932,988.78.

Barrick Gold Company Profile

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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