What to Expect From Barrick Earnings
After the U.S. markets close Wednesday, Barrick Gold is scheduled to report its fourth-quarter financial results.
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
After the markets close Wednesday, Barrick Gold Corp. (NYSE: ABX) will report its fourth-quarter financial results. Thomson Reuters has consensus estimates of $0.13 in earnings per share (EPS) and $2.48 billion in revenue. In the fourth quarter of the previous year, the world’s largest gold mining company posted EPS of $0.37 and $2.93 billion in revenue.
Barrick stock has lost 38% in the past year. The company’s dividend yield is 1.7%, which should count as something of a miracle after the company wrote down $4.2 billion in 2013. The firm’s operating loss in 2013 totaled $8.8 billion. In early November, an analyst at J.P. Morgan recommended a pair trade: buy Newmont and sell Barrick, thinking that the merger between the two would come back with Barrick as the acquirer. Stranger things have happened.
24/7 Wall St. found a recent analyst call on Barrick to shed some more light on the stock. Citigroup reiterated a Buy rating and lowered the price target to $18 from $19. Ultimately this call implies an upside of nearly 50% from Tuesday’s close of $12.03. It is also the highest listed price target among analysts. The consensus price target of $13.37 only implies upside of about 11%.
The 50-day moving average currently resides under the share price at $11.63. Barrick shares crossed over that moving average in mid-January, but prior to that point the moving average had acted as resistance reaching back into the third quarter. The 200-day moving average is an overhang that reads at $14.88.
Shares of Barrick were down 0.8% at $11.93 in the first half of Wednesday’s trading day. The stock has a 52-week trading range of $10.04 to $21.45.
ALSO READ: A True Surprise in Global Gold Demand Trends for 2014, 2015 and Beyond
Contact [email protected] for any questions or corrections.
Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.
