The 10-second takeaway
For the quarter ended March 31 (Q1), Barrick Gold missed estimates on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share.
Margins dropped across the board.
Barrick Gold recorded revenue of $3.64 billion. The seven analysts polled by S&P Capital IQ expected revenue of $3.76 billion on the same basis. GAAP reported sales were 18% higher than the prior-year quarter's $3.09 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 $1.09. The 15 earnings estimates compiled by S&P Capital IQ forecast $1.10 per share. GAAP EPS of $1.03 for Q1 were 3.0% higher than the prior-year quarter's $1.00 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 51.4%, 470 basis points worse than the prior-year quarter. Operating margin was 44.9%, 460 basis points worse than the prior-year quarter. Net margin was 28.2%, 420 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $3.88 billion. On the bottom line, the average EPS estimate is $1.17.
Next year's average estimate for revenue is $15.89 billion. The average EPS estimate is $5.01.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,995 members out of 2,117 rating the stock outperform, and 122 members rating it underperform. Among 398 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 365 give Barrick Gold a green thumbs-up, and 33 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 $64.35.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.