FY2025 EPS Estimates for Barrick Gold Reduced by Scotiabank

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Analysts at Scotiabank lowered their FY2025 earnings estimates for shares of Barrick Gold in a report released on Wednesday, March 19th. Scotiabank analyst T. Jakusconek now forecasts that the gold and copper producer will post earnings per share of $1.00 for the year, down from their prior forecast of $1.50. Scotiabank currently has a “Sector Perform” rating and a $20.00 price objective on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $1.47 per share. Scotiabank also issued estimates for Barrick Gold’s FY2026 earnings at $1.05 EPS.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%.

Several other research analysts have also commented on the stock. Stifel Canada upgraded shares of Barrick Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Berenberg Bank upped their price target on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. TD Securities cut their price objective on Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. UBS Group upgraded Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Wednesday, March 5th. Finally, Citigroup lowered their target price on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.75.

Barrick Gold Stock Performance

NYSE GOLD opened at $19.34 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. Barrick Gold has a 1-year low of $0.25 and a 1-year high of $21.35. The firm has a market capitalization of $33.37 billion, a P/E ratio of 15.72, a P/E/G ratio of 0.44 and a beta of 0.58. The business’s 50-day simple moving average is $17.64 and its 200-day simple moving average is $18.03.

Barrick Gold announced that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the gold and copper producer to repurchase up to 3.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Friday, February 28th. Barrick Gold’s payout ratio is currently 32.52%.

Institutional Trading of Barrick Gold

Institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors raised its stake in shares of Barrick Gold by 136.1% in the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer’s stock valued at $516,055,000 after purchasing an additional 19,189,830 shares in the last quarter. Causeway Capital Management LLC acquired a new position in shares of Barrick Gold in the 4th quarter worth approximately $172,225,000. Wellington Management Group LLP increased its holdings in shares of Barrick Gold by 17.5% in the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer’s stock valued at $996,802,000 after acquiring an additional 9,598,292 shares during the last quarter. FIL Ltd raised its position in shares of Barrick Gold by 236.7% during the 4th quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer’s stock valued at $105,692,000 after acquiring an additional 4,791,663 shares in the last quarter. Finally, Capital International Inc. CA bought a new position in Barrick Gold during the fourth quarter worth $57,991,000. 62.85% of the stock is owned by institutional investors and hedge funds.

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.