Equities research analysts predict that Barrick Gold Corp (NYSE:ABX) (TSE:ABX) will report sales of $1.92 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Barrick Gold’s earnings. The highest sales estimate is $2.00 billion and the lowest is $1.84 billion. Barrick Gold reported sales of $1.99 billion during the same quarter last year, which would suggest a negative year over year growth rate of 3.5%. The firm is scheduled to announce its next earnings report on Wednesday, October 24th.

According to Zacks, analysts expect that Barrick Gold will report full-year sales of $7.43 billion for the current year, with estimates ranging from $7.42 billion to $7.46 billion. For the next year, analysts anticipate that the business will report sales of $7.40 billion per share, with estimates ranging from $7.24 billion to $7.65 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Barrick Gold.

Barrick Gold (NYSE:ABX) (TSE:ABX) last announced its earnings results on Wednesday, July 25th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.05). The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 20.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 EPS.

Several research analysts recently issued reports on ABX shares. Zacks Investment Research raised Barrick Gold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. TD Securities set a $14.00 target price on Barrick Gold and gave the company a “hold” rating in a research report on Monday, July 30th. Scotiabank reaffirmed a “hold” rating and set a $16.00 target price on shares of Barrick Gold in a research report on Friday, July 27th. Jefferies Financial Group cut Barrick Gold from a “buy” rating to a “hold” rating and cut their price objective for the stock from $17.00 to $11.00 in a research report on Monday, August 6th. Finally, Citigroup raised Barrick Gold from a “sell” rating to a “neutral” rating and set a $11.00 price objective on the stock in a research report on Tuesday, August 28th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $15.18.

Shares of NYSE:ABX traded up $0.03 during mid-day trading on Thursday, hitting $10.11. 12,207,800 shares of the company traded hands, compared to its average volume of 11,584,858. The stock has a market cap of $11.40 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 7.99 and a beta of -0.37. The company has a quick ratio of 1.22, a current ratio of 2.12 and a debt-to-equity ratio of 0.51. Barrick Gold has a 12-month low of $9.53 and a 12-month high of $17.34.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Friday, August 31st will be given a $0.03 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.12 annualized dividend and a yield of 1.19%. Barrick Gold’s dividend payout ratio is currently 16.00%.

A number of hedge funds have recently bought and sold shares of ABX. Van ECK Associates Corp raised its stake in shares of Barrick Gold by 30.2% in the first quarter. Van ECK Associates Corp now owns 58,477,437 shares of the basic materials company’s stock valued at $728,044,000 after buying an additional 13,555,499 shares during the period. Ashler Capital LLC raised its stake in shares of Barrick Gold by 78.2% in the second quarter. Ashler Capital LLC now owns 18,297,749 shares of the basic materials company’s stock valued at $240,249,000 after buying an additional 8,030,578 shares during the period. Flossbach Von Storch AG raised its stake in shares of Barrick Gold by 13.8% in the second quarter. Flossbach Von Storch AG now owns 48,397,134 shares of the basic materials company’s stock valued at $635,457,000 after buying an additional 5,873,410 shares during the period. Toronto Dominion Bank raised its stake in shares of Barrick Gold by 144.4% in the second quarter. Toronto Dominion Bank now owns 7,729,036 shares of the basic materials company’s stock valued at $103,335,000 after buying an additional 4,567,102 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Barrick Gold by 138.0% in the second quarter. Dimensional Fund Advisors LP now owns 6,285,904 shares of the basic materials company’s stock valued at $82,534,000 after buying an additional 3,644,976 shares during the period. 52.69% of the stock is currently owned by institutional investors and hedge funds.

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 (NYSE:ABX)

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