Brokerages Anticipate Barrick Gold (ABX) Will Post Quarterly Sales of $1.83 Billion

Equities analysts expect Barrick Gold (NYSE:ABX) (TSE:ABX) to announce sales of $1.83 billion for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Barrick Gold’s earnings, with the lowest sales estimate coming in at $1.79 billion and the highest estimate coming in at $1.87 billion. Barrick Gold reported sales of $1.99 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 8%. The business is expected to report its next earnings report after the market closes on Monday, April 23rd.

According to Zacks, analysts expect that Barrick Gold will report full-year sales of $1.83 billion for the current fiscal year, with estimates ranging from $7.59 billion to $8.72 billion. For the next fiscal year, analysts expect that the company will post sales of $7.62 billion per share, with estimates ranging from $7.33 billion to $8.25 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Barrick Gold.

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Barrick Gold (NYSE:ABX) (TSE:ABX) last issued its quarterly earnings data on Wednesday, February 14th. The basic materials company reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.02. Barrick Gold had a net margin of 17.17% and a return on equity of 7.59%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same period last year, the business posted $0.22 earnings per share. Barrick Gold’s quarterly revenue was down 3.9% compared to the same quarter last year.

Several equities analysts have recently issued reports on ABX shares. BMO Capital Markets set a $16.00 target price on shares of Barrick Gold and gave the company a “hold” rating in a report on Tuesday, December 19th. Raymond James Financial lowered their target price on shares of Barrick Gold from $19.00 to $17.00 and set a “market perform” rating for the company in a report on Monday, February 26th. Desjardins reiterated a “hold” rating on shares of Barrick Gold in a report on Monday, December 11th. Deutsche Bank reduced their price target on shares of Barrick Gold from $17.50 to $15.00 and set a “buy” rating for the company in a research report on Thursday, March 15th. Finally, Argus downgraded shares of Barrick Gold from a “buy” rating to a “hold” rating in a research report on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the stock. Barrick Gold presently has a consensus rating of “Hold” and a consensus price target of $16.80.

A number of large investors have recently bought and sold shares of ABX. Raymond James Financial Services Advisors Inc. grew its position in shares of Barrick Gold by 22.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 51,342 shares of the basic materials company’s stock valued at $826,000 after acquiring an additional 9,264 shares during the period. Ameriprise Financial Inc. grew its position in shares of Barrick Gold by 25.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 73,411 shares of the basic materials company’s stock valued at $1,181,000 after acquiring an additional 14,904 shares during the period. Virginia Retirement Systems ET AL bought a new stake in shares of Barrick Gold during the 3rd quarter valued at $1,471,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Barrick Gold by 5.6% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 80,756 shares of the basic materials company’s stock valued at $1,299,000 after acquiring an additional 4,300 shares during the period. Finally, Commonwealth Bank of Australia grew its position in shares of Barrick Gold by 39.1% during the 3rd quarter. Commonwealth Bank of Australia now owns 131,848 shares of the basic materials company’s stock valued at $2,117,000 after acquiring an additional 37,061 shares during the period. 52.89% of the stock is owned by institutional investors and hedge funds.

Shares of ABX stock traded up $0.12 during trading hours on Tuesday, hitting $12.69. 9,038,823 shares of the company’s stock traded hands, compared to its average volume of 11,205,412. Barrick Gold has a 12-month low of $11.07 and a 12-month high of $20.36. The firm has a market capitalization of $14,807.87, a price-to-earnings ratio of 16.92, a PEG ratio of 7.52 and a beta of -0.17. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.60 and a current ratio of 2.68.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Tuesday, February 27th. Barrick Gold’s dividend payout ratio (DPR) is presently 16.00%.

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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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