Analysts Offer Predictions for Barrick Gold Corp’s Q3 2022 Earnings (NYSE:GOLD)

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Equities researchers at Raymond James issued their Q3 2022 earnings per share estimates for shares of Barrick Gold in a research note issued on Monday, April 5th. Raymond James analyst B. Macarthur forecasts that the gold and copper producer will post earnings of $0.32 per share for the quarter. Raymond James has a “Outperform” rating and a $29.00 price objective on the stock. Raymond James also issued estimates for Barrick Gold’s Q4 2022 earnings at $0.36 EPS.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results on Wednesday, February 17th. The gold and copper producer reported $0.35 EPS for the quarter, topping the consensus estimate of $0.31 by $0.04. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.22 billion. Barrick Gold had a return on equity of 5.63% and a net margin of 24.81%.

Several other equities analysts have also issued reports on GOLD. Fundamental Research cut their price target on Barrick Gold from $31.79 to $28.28 and set a “buy” rating on the stock in a research note on Friday, February 19th. Robert W. Baird raised Barrick Gold from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $35.00 to $28.00 in a research note on Wednesday, January 6th. TheStreet lowered Barrick Gold from a “b-” rating to a “c” rating in a research note on Monday, March 15th. Zacks Investment Research raised Barrick Gold from a “sell” rating to a “hold” rating and set a $23.00 price target on the stock in a research note on Friday, January 29th. Finally, Stifel Nicolaus upped their price target on Barrick Gold from $42.50 to $43.25 and gave the company a “buy” rating in a research note on Monday, February 8th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Barrick Gold currently has an average rating of “Buy” and a consensus target price of $30.77.

Shares of GOLD stock opened at $20.67 on Thursday. The stock’s fifty day moving average is $20.13 and its 200-day moving average is $22.56. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.28 and a current ratio of 4.49. The stock has a market capitalization of $36.76 billion, a PE ratio of 12.16, a PEG ratio of 9.12 and a beta of -0.02. Barrick Gold has a 52 week low of $18.64 and a 52 week high of $31.22.

Several large investors have recently bought and sold shares of GOLD. Flossbach Von Storch AG grew its holdings in shares of Barrick Gold by 14.5% during the fourth quarter. Flossbach Von Storch AG now owns 53,750,469 shares of the gold and copper producer’s stock worth $1,224,436,000 after buying an additional 6,821,463 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Barrick Gold by 5.8% during the fourth quarter. Van ECK Associates Corp now owns 84,311,925 shares of the gold and copper producer’s stock worth $1,920,626,000 after buying an additional 4,616,266 shares in the last quarter. Morgan Stanley grew its holdings in shares of Barrick Gold by 50.9% during the fourth quarter. Morgan Stanley now owns 6,809,037 shares of the gold and copper producer’s stock worth $155,111,000 after buying an additional 2,297,499 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Barrick Gold during the fourth quarter worth about $42,312,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Barrick Gold by 13.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,889,446 shares of the gold and copper producer’s stock valued at $247,999,000 after purchasing an additional 1,306,846 shares in the last quarter. Institutional investors and hedge funds own 60.93% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Monday, March 1st were issued a $0.09 dividend. The ex-dividend date was Friday, February 26th. This represents a $0.36 annualized dividend and a dividend yield of 1.74%. Barrick Gold’s dividend payout ratio (DPR) is currently 70.59%.

About Barrick Gold

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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