Barrick Gold Corp (ABX) Expected to Announce Earnings of $0.15 Per Share

Wall Street brokerages expect that Barrick Gold Corp (NYSE:ABX) (TSE:ABX) will post $0.15 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Barrick Gold’s earnings, with the lowest EPS estimate coming in at $0.08 and the highest estimate coming in at $0.21. Barrick Gold posted earnings of $0.16 per share in the same quarter last year, which would suggest a negative year over year growth rate of 6.3%. The business is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, October 24th.

According to Zacks, analysts expect that Barrick Gold will report full year earnings of $0.60 per share for the current fiscal year, with EPS estimates ranging from $0.37 to $0.85. For the next financial year, analysts forecast that the business will report earnings of $0.59 per share, with EPS estimates ranging from $0.39 to $0.86. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Barrick Gold.

Barrick Gold (NYSE:ABX) (TSE:ABX) last issued its quarterly earnings data on Wednesday, July 25th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.05). Barrick Gold had a negative net margin of 3.38% and a positive return on equity of 6.13%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the firm posted $0.22 EPS. The company’s revenue for the quarter was down 20.7% compared to the same quarter last year.

Several equities analysts have issued reports on ABX shares. Citigroup upgraded Barrick Gold from a “sell” rating to a “neutral” rating and set a $11.00 price objective for the company in a research report on Tuesday, August 28th. ValuEngine downgraded Barrick Gold from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 26th. Royal Bank of Canada downgraded Barrick Gold from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $16.00 to $14.00 in a research report on Monday, July 30th. Morgan Stanley downgraded Barrick Gold from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $14.00 to $12.00 in a research report on Tuesday, June 12th. Finally, Zacks Investment Research downgraded Barrick Gold from a “hold” rating to a “sell” rating in a research report on Thursday, July 12th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $15.00.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABX. Private Vista LLC bought a new stake in Barrick Gold in the first quarter valued at about $125,000. First City Capital Management Inc. acquired a new position in Barrick Gold in the second quarter valued at about $161,000. HRT Financial LLC acquired a new position in Barrick Gold in the second quarter valued at about $172,000. Ontario Teachers Pension Plan Board acquired a new position in Barrick Gold in the second quarter valued at about $216,000. Finally, Trexquant Investment LP acquired a new position in Barrick Gold in the second quarter valued at about $224,000. Institutional investors and hedge funds own 52.65% of the company’s stock.

Shares of ABX opened at $10.47 on Friday. The company has a quick ratio of 1.22, a current ratio of 2.12 and a debt-to-equity ratio of 0.51. Barrick Gold has a 52-week low of $9.53 and a 52-week high of $16.83. The firm has a market capitalization of $12.22 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 8.77 and a beta of -0.37.

The company also recently announced a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, August 31st were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.15%. Barrick Gold’s payout ratio is currently 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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