Cormark Has Pessimistic View of Barrick Gold FY2025 Earnings

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Stock analysts at Cormark decreased their FY2025 earnings per share estimates for shares of Barrick Gold in a research note issued to investors on Wednesday, January 15th. Cormark analyst R. Gray now expects that the gold and copper producer will post earnings per share of $1.37 for the year, down from their prior forecast of $1.81. The consensus estimate for Barrick Gold’s current full-year earnings is $1.25 per share. Cormark also issued estimates for Barrick Gold’s FY2026 earnings at $1.24 EPS.

A number of other research firms have also issued reports on GOLD. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Berenberg Bank increased their target price on Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. TD Securities lowered their target price on Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. Finally, CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.45.

Barrick Gold Stock Performance

Barrick Gold stock opened at $15.98 on Monday. The stock’s 50-day moving average is $16.50 and its 200-day moving average is $18.36. The company has a market cap of $27.59 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 0.30 and a beta of 0.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. Barrick Gold has a 12 month low of $13.76 and a 12 month high of $21.35.

Hedge Funds Weigh In On Barrick Gold

A number of hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in shares of Barrick Gold by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock worth $1,088,484,000 after acquiring an additional 1,458,084 shares during the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of Barrick Gold by 3.7% during the second quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock valued at $314,254,000 after buying an additional 666,214 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Barrick Gold by 33.3% during the third quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock valued at $227,524,000 after buying an additional 2,854,055 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Barrick Gold by 221.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock valued at $199,427,000 after buying an additional 6,904,934 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Barrick Gold by 9.5% during the third quarter. Geode Capital Management LLC now owns 8,047,255 shares of the gold and copper producer’s stock valued at $162,140,000 after buying an additional 696,556 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

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.