The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Barrick Gold missed estimates on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP earnings per share dropped significantly.
Margins contracted across the board.
Barrick Gold logged revenue of $3.44 billion. The seven analysts polled by S&P Capital IQ looked for revenue of $3.64 billion on the same basis. GAAP reported sales were 13% lower than the prior-year quarter's $3.97 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.85. The 20 earnings estimates compiled by S&P Capital IQ predicted $1.01 per share. GAAP EPS of $0.62 for Q3 were 54% lower than the prior-year quarter's $1.36 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 47.1%, 1,130 basis points worse than the prior-year quarter. Operating margin was 30.6%, 2,260 basis points worse than the prior-year quarter. Net margin was 18.0%, 1,640 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $3.95 billion. On the bottom line, the average EPS estimate is $1.19.
Next year's average estimate for revenue is $14.49 billion. The average EPS estimate is $4.01.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 2,039 members out of 2,157 rating the stock outperform, and 118 members rating it underperform. Among 384 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 354 give Barrick Gold a green thumbs-up, and 30 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Barrick Gold is outperform, with an average price target of $52.11.
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