Analysts expect that Barrick Gold Corp (NYSE:ABX) (TSE:ABX) will report $1.77 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Barrick Gold’s earnings, with the highest sales estimate coming in at $1.82 billion and the lowest estimate coming in at $1.73 billion. Barrick Gold reported sales of $2.16 billion in the same quarter last year, which indicates a negative year over year growth rate of 18.1%. The company is scheduled to announce its next earnings report on Wednesday, July 25th.
On average, analysts expect that Barrick Gold will report full-year sales of $7.81 billion for the current financial year, with estimates ranging from $7.61 billion to $8.04 billion. For the next year, analysts expect that the firm will post sales of $7.57 billion per share, with estimates ranging from $7.33 billion to $8.13 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Barrick Gold.
Barrick Gold (NYSE:ABX) (TSE:ABX) last posted its earnings results on Monday, April 23rd. The basic materials company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. Barrick Gold had a return on equity of 7.62% and a net margin of 11.22%. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the company earned $0.14 earnings per share. The company’s revenue for the quarter was down 10.2% on a year-over-year basis.
A number of research analysts have recently weighed in on ABX shares. Deutsche Bank dropped their target price on Barrick Gold from $17.50 to $15.00 and set a “buy” rating on the stock in a report on Thursday, March 15th. Jefferies Financial Group set a $17.00 price target on Barrick Gold and gave the company a “buy” rating in a research report on Thursday, February 15th. Morgan Stanley decreased their price target on Barrick Gold from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 28th. Credit Suisse Group set a $19.00 price target on Barrick Gold and gave the company a “hold” rating in a research report on Friday, April 13th. Finally, Argus downgraded Barrick Gold from a “buy” rating to a “hold” rating in a research report on Friday, March 2nd. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $16.06.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Stephens Inc. AR boosted its stake 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 valued at $502,000 after buying an additional 4,038 shares during the period. Afam Capital Inc. boosted its stake 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 valued at $2,172,000 after buying an additional 4,122 shares during the period. Point View Wealth Management Inc. boosted its stake 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 valued at $1,213,000 after buying an additional 5,308 shares during the period. Reilly Herbert Faulkner III boosted its stake 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 valued at $4,299,000 after buying an additional 6,904 shares during the period. Finally, Advisor Group Inc. lifted its stake in Barrick Gold by 40.8% during the fourth quarter. Advisor Group Inc. now owns 27,004 shares of the basic materials company’s stock worth $390,000 after purchasing an additional 7,819 shares during the last quarter. Institutional investors own 53.11% of the company’s stock.
Shares of Barrick Gold traded up $0.12, reaching $13.17, during trading hours on Monday, MarketBeat.com reports. The company had a trading volume of 8,697,640 shares, compared to its average volume of 11,414,483. Barrick Gold has a 12 month low of $11.07 and a 12 month high of $18.35. The company has a quick ratio of 1.71, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $15.40 billion, a PE ratio of 17.55, a P/E/G ratio of 8.59 and a beta of -0.15.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Wednesday, May 30th. Barrick Gold’s dividend payout ratio (DPR) is presently 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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