Barrick Gold Corp (NYSE:ABX) (TSE:ABX) – Investment analysts at Cormark boosted their Q3 2018 earnings estimates for shares of Barrick Gold in a report issued on Tuesday, September 25th. Cormark analyst R. Gray now forecasts that the basic materials company will earn $0.22 per share for the quarter, up from their prior estimate of $0.15. Cormark also issued estimates for Barrick Gold’s Q4 2018 earnings at $0.21 EPS and FY2018 earnings at $0.65 EPS.
Barrick Gold (NYSE:ABX) (TSE:ABX) last issued its earnings results on Wednesday, July 25th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.05). The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.74 billion. Barrick Gold had a negative net margin of 3.38% and a positive return on equity of 6.13%. The firm’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same period last year, the business posted $0.22 EPS.
Shares of NYSE ABX opened at $11.13 on Thursday. The stock has a market capitalization of $13.05 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 9.30 and a beta of -0.37. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 2.12. Barrick Gold has a 1 year low of $9.53 and a 1 year high of $16.83.
A number of institutional investors have recently added to or reduced their stakes in ABX. Ashler Capital LLC boosted its stake in Barrick Gold by 78.2% during the 2nd quarter. Ashler Capital LLC now owns 18,297,749 shares of the basic materials company’s stock worth $240,249,000 after acquiring an additional 8,030,578 shares during the last quarter. Flossbach Von Storch AG raised its holdings in Barrick Gold by 13.8% during the 2nd quarter. Flossbach Von Storch AG now owns 48,397,134 shares of the basic materials company’s stock worth $635,457,000 after buying an additional 5,873,410 shares during the period. Toronto Dominion Bank raised its holdings in Barrick Gold by 144.4% during the 2nd quarter. Toronto Dominion Bank now owns 7,729,036 shares of the basic materials company’s stock worth $103,335,000 after buying an additional 4,567,102 shares during the period. Dimensional Fund Advisors LP raised its holdings in Barrick Gold by 138.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,285,904 shares of the basic materials company’s stock worth $82,534,000 after buying an additional 3,644,976 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in Barrick Gold by 65.6% during the 2nd quarter. CIBC Asset Management Inc now owns 4,837,174 shares of the basic materials company’s stock worth $63,555,000 after buying an additional 1,915,898 shares during the period. 52.65% of the stock is currently owned by institutional investors and hedge funds.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Friday, August 31st were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Thursday, August 30th. Barrick Gold’s payout ratio is 16.00%.
Barrick Gold Company Profile
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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