Stifel Canada Reduces Earnings Estimates for Barrick Gold

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) – Stock analysts at Stifel Canada lowered their Q4 2024 EPS estimates for shares of Barrick Gold in a report issued on Tuesday, February 4th. Stifel Canada analyst I. Rico now forecasts that the gold and copper producer will post earnings per share of $0.41 for the quarter, down from their prior estimate of $0.53. The consensus estimate for Barrick Gold’s current full-year earnings is $1.25 per share. Stifel Canada also issued estimates for Barrick Gold’s FY2026 earnings at $1.55 EPS.

Other equities analysts have also issued research reports about the company. Raymond James lowered their target price on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. TD Securities lowered their price objective on Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Berenberg Bank boosted their target price on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Finally, CIBC downgraded shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.92.

Barrick Gold Stock Up 2.7 %

Barrick Gold stock opened at $17.13 on Thursday. Barrick Gold has a twelve month low of $13.76 and a twelve month high of $21.35. The stock has a market cap of $29.59 billion, a P/E ratio of 18.42, a P/E/G ratio of 0.36 and a beta of 0.55. The company’s 50-day moving average price is $16.21 and its two-hundred day moving average price is $18.20. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GOLD. AQR Capital Management LLC boosted its position in Barrick Gold by 24.8% during the 2nd quarter. AQR Capital Management LLC now owns 43,901 shares of the gold and copper producer’s stock worth $732,000 after buying an additional 8,712 shares during the period. Truist Financial Corp lifted its holdings in shares of Barrick Gold by 27.8% during the second quarter. Truist Financial Corp now owns 95,794 shares of the gold and copper producer’s stock worth $1,598,000 after purchasing an additional 20,842 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Barrick Gold in the second quarter worth $934,000. Atomi Financial Group Inc. acquired a new stake in Barrick Gold in the third quarter valued at $363,000. Finally, CWM LLC raised its position in Barrick Gold by 6.9% during the 3rd quarter. CWM LLC now owns 15,826 shares of the gold and copper producer’s stock worth $315,000 after purchasing an additional 1,021 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors.

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.