Barrick Gold (GOLD) to Release Earnings on Wednesday

Barrick Gold (NYSE:GOLDGet Free Report) (TSE:ABX) is scheduled to be announcing its 12/31/2023 earnings results before the market opens on Wednesday, February 14th. Analysts expect the company to announce earnings of $0.21 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Barrick Gold Stock Up 0.3 %

GOLD stock opened at $14.72 on Tuesday. The firm has a 50-day moving average price of $16.73 and a 200-day moving average price of $16.27. The stock has a market capitalization of $25.84 billion, a P/E ratio of 490.67, a price-to-earnings-growth ratio of 0.97 and a beta of 0.58. Barrick Gold has a 12 month low of $13.82 and a 12 month high of $20.75. The company has a current ratio of 3.07, a quick ratio of 2.28 and a debt-to-equity ratio of 0.15.

Institutional Investors Weigh In On Barrick Gold

Institutional investors and hedge funds have recently modified their holdings of the stock. Snider Financial Group bought a new position in Barrick Gold in the first quarter worth $185,000. BlackRock Inc. lifted its position in Barrick Gold by 13.9% during the 1st quarter. BlackRock Inc. now owns 42,464,736 shares of the gold and copper producer’s stock valued at $788,570,000 after acquiring an additional 5,188,456 shares during the period. Wellington Management Group LLP boosted its stake in Barrick Gold by 40.8% during the first quarter. Wellington Management Group LLP now owns 17,824,320 shares of the gold and copper producer’s stock worth $437,387,000 after acquiring an additional 5,164,698 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Barrick Gold in the first quarter worth about $53,227,000. Finally, Morgan Stanley increased its stake in shares of Barrick Gold by 31.2% during the third quarter. Morgan Stanley now owns 10,959,447 shares of the gold and copper producer’s stock valued at $159,460,000 after purchasing an additional 2,608,701 shares in the last quarter. 58.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on GOLD shares. Citigroup cut their target price on Barrick Gold from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 28th. TD Securities lowered their price objective on shares of Barrick Gold from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, November 6th. StockNews.com downgraded shares of Barrick Gold from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. BMO Capital Markets decreased their price target on shares of Barrick Gold from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, January 17th. Finally, Scotiabank dropped their price objective on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Barrick Gold has a consensus rating of “Moderate Buy” and an average target price of $21.98.

Read Our Latest Report on Barrick Gold

About Barrick Gold

(Get Free Report)

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.

Further Reading

Earnings History for Barrick Gold (NYSE:GOLD)

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