Desjardins Equities Analysts Reduce Earnings Estimates for Barrick Gold Corp (ABX)

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Barrick Gold Corp (TSE:ABX) (NYSE:ABX) – Equities research analysts at Desjardins lowered their Q3 2019 EPS estimates for Barrick Gold in a report released on Wednesday, March 13th. Desjardins analyst J. Wolfson now expects that the company will post earnings of $0.10 per share for the quarter, down from their prior forecast of $0.11. Desjardins has a “Buy” rating and a $22.00 price objective on the stock. Desjardins also issued estimates for Barrick Gold’s FY2019 earnings at $0.42 EPS and FY2020 earnings at $0.41 EPS.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings data on Wednesday, February 13th. The company reported C$0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.09 by C($0.01). The company had revenue of C$2.52 billion for the quarter, compared to analyst estimates of C$2.59 billion.

ABX has been the topic of a number of other research reports. GMP Securities reiterated a “hold” rating and set a C$17.15 price target on shares of Barrick Gold in a report on Wednesday, February 27th. Haywood Securities lifted their price target on shares of Barrick Gold from C$18.00 to C$19.00 in a report on Thursday, February 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Barrick Gold from C$17.00 to C$18.00 in a report on Wednesday, January 9th.

TSE ABX opened at C$17.44 on Friday. The firm has a market cap of $30.98 billion and a price-to-earnings ratio of -13.17. Barrick Gold has a fifty-two week low of C$12.54 and a fifty-two week high of C$18.99. The company has a current ratio of 2.39, a quick ratio of 1.20 and a debt-to-equity ratio of 61.14.

An institutional investor recently raised its position in Barrick Gold stock. FMR LLC lifted its holdings in shares of Barrick Gold Corp (TSE:ABX) (NYSE:ABX) by 123.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,759,704 shares of the company’s stock after acquiring an additional 8,709,003 shares during the period. FMR LLC owned approximately 0.90% of Barrick Gold worth $212,753,000 at the end of the most recent reporting period.

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

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