Brokerages Expect Barrick Gold (ABX) to Announce $0.17 EPS

Brokerages predict that Barrick Gold (NYSE:ABX) (TSE:ABX) will announce earnings per share (EPS) of $0.17 for the current quarter, according to Zacks. Two analysts have issued estimates for Barrick Gold’s earnings, with the lowest EPS estimate coming in at $0.15 and the highest estimate coming in at $0.22. Barrick Gold posted earnings per share of $0.22 in the same quarter last year, which would suggest a negative year over year growth rate of 22.7%. The business is scheduled to report its next quarterly earnings report on Wednesday, July 25th.

According to Zacks, analysts expect that Barrick Gold will report full-year earnings of $0.79 per share for the current financial year, with EPS estimates ranging from $0.72 to $0.84. For the next year, analysts expect that the business will report earnings of $0.79 per share, with EPS estimates ranging from $0.54 to $1.08. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Barrick Gold.

Barrick Gold (NYSE:ABX) (TSE:ABX) last posted its quarterly earnings data on Monday, April 23rd. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. Barrick Gold had a net margin of 11.22% and a return on equity of 7.62%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period last year, the company earned $0.14 earnings per share. The firm’s revenue was down 10.2% compared to the same quarter last year.



A number of analysts have recently issued reports on the stock. Canaccord Genuity downgraded shares of Barrick Gold from a “buy” rating to a “hold” rating in a report on Monday, April 23rd. Morgan Stanley lowered their price objective on shares of Barrick Gold from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th. Zacks Investment Research downgraded shares of Barrick Gold from a “hold” rating to a “sell” rating in a report on Tuesday, January 30th. Royal Bank of Canada upgraded shares of Barrick Gold from a “sector perform” rating to an “outperform” rating and lowered their price objective for the company from $17.00 to $16.00 in a report on Monday, March 12th. Finally, Citigroup set a $11.00 price objective on shares of Barrick Gold and gave the company a “sell” rating in a report on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $16.49.

A number of hedge funds have recently added to or reduced their stakes in the business. Stephens Inc. AR boosted its position in Barrick Gold by 13.2% during the fourth quarter. Stephens Inc. AR now owns 34,715 shares of the basic materials company’s stock worth $502,000 after purchasing an additional 4,038 shares during the period. Afam Capital Inc. boosted its position in Barrick Gold by 2.4% during the first quarter. Afam Capital Inc. now owns 174,474 shares of the basic materials company’s stock worth $2,172,000 after purchasing an additional 4,122 shares during the period. Shine Investment Advisory Services Inc. boosted its position in Barrick Gold by 99.8% during the fourth quarter. Shine Investment Advisory Services Inc. now owns 9,648 shares of the basic materials company’s stock worth $140,000 after purchasing an additional 4,820 shares during the period. Point View Wealth Management Inc. boosted its position in Barrick Gold by 6.8% during the fourth quarter. Point View Wealth Management Inc. now owns 83,851 shares of the basic materials company’s stock worth $1,213,000 after purchasing an additional 5,308 shares during the period. Finally, Reilly Herbert Faulkner III boosted its position in Barrick Gold by 2.0% during the first quarter. Reilly Herbert Faulkner III now owns 345,263 shares of the basic materials company’s stock worth $4,299,000 after purchasing an additional 6,904 shares during the period. 53.81% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold opened at $13.39 on Wednesday, according to MarketBeat. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.71 and a current ratio of 2.82. Barrick Gold has a 12-month low of $11.07 and a 12-month high of $18.35. The company has a market capitalization of $15.73 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 8.38 and a beta of -0.13.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be issued a dividend of $0.03 per share. The ex-dividend date is Wednesday, May 30th. This represents a $0.12 dividend on an annualized basis and a yield of 0.90%. Barrick Gold’s payout ratio is 16.00%.

About Barrick Gold

Barrick Gold Corporation engages in the exploration and development of mineral properties. It primarily explores for gold and copper deposits. The company holds a 50% interest in the Veladero mine located in the San Juan Province of Argentina; 50% interest in the KCGM, a gold mine located in Australia; 95% interest in Porgera, a 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, a copper mine located in Saudi Arabia.

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Earnings History and Estimates for Barrick Gold (NYSE:ABX)

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