Raymond James Equities Analysts Boost Earnings Estimates for Barrick Gold Corp (TSE:ABX)

Barrick Gold Corp (TSE:ABX) (NYSE:ABX) – Equities research analysts at Raymond James lifted their FY2020 earnings per share estimates for shares of Barrick Gold in a research report issued on Monday, August 12th. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings per share of $0.82 for the year, up from their prior forecast of $0.80.

Several other analysts also recently commented on the company. Eight Capital raised their target price on Barrick Gold from C$20.00 to C$28.00 in a research note on Thursday, August 8th. BMO Capital Markets restated an “outperform” rating and issued a C$20.00 target price on shares of Barrick Gold in a research note on Thursday, July 4th. Finally, Canaccord Genuity raised their target price on Barrick Gold from C$19.50 to C$21.00 in a research note on Friday, July 19th.

Shares of ABX opened at C$24.49 on Wednesday. The company has a debt-to-equity ratio of 31.73, a current ratio of 2.46 and a quick ratio of 1.28. The stock has a 50-day moving average of C$22.13 and a 200-day moving average of C$18.73. The company has a market cap of $42.50 billion and a PE ratio of -20.09. Barrick Gold has a one year low of C$12.54 and a one year high of C$24.67.

Several institutional investors and hedge funds have recently modified their holdings of ABX. Means Investment CO. Inc. grew its stake in shares of Barrick Gold by 5.2% in the 1st quarter. Means Investment CO. Inc. now owns 39,535 shares of the basic materials company’s stock valued at $542,000 after buying an additional 1,956 shares during the period. Fruth Investment Management lifted its position in Barrick Gold by 59.6% in the 1st quarter. Fruth Investment Management now owns 16,409 shares of the basic materials company’s stock valued at $224,000 after acquiring an additional 6,128 shares in the last quarter. Ronna Sue Cohen lifted its position in Barrick Gold by 1,271.0% in the 1st quarter. Ronna Sue Cohen now owns 274,131 shares of the basic materials company’s stock valued at $274,000 after acquiring an additional 254,136 shares in the last quarter. Centre Asset Management LLC lifted its position in Barrick Gold by 48.2% in the 1st quarter. Centre Asset Management LLC now owns 905,410 shares of the basic materials company’s stock valued at $12,413,000 after acquiring an additional 294,590 shares in the last quarter. Finally, Wedbush Securities Inc. lifted its position in Barrick Gold by 309.3% in the 1st quarter. Wedbush Securities Inc. now owns 87,588 shares of the basic materials company’s stock valued at $1,201,000 after acquiring an additional 66,187 shares in the last quarter.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a $0.053 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.21 annualized dividend and a dividend yield of 0.87%. Barrick Gold’s dividend payout ratio is presently -13.95%.

Barrick Gold Company Profile

Barrick Gold Corporation explores for and develops mineral properties. The company primarily explores for gold, copper, and silver deposits. It holds a 50% interest in the Veladero, a gold mine located in Argentina; 50% interest in the Kalgoorlie gold mine located in Australia; 95% interest in the Porgera 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 copper mine located in Saudi Arabia.

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

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