Barrick Gold Co. to Post Q4 2022 Earnings of $0.22 Per Share, Jefferies Financial Group Forecasts (TSE:ABX)

Barrick Gold Co. (TSE:ABX – Get Rating) (NYSE:ABX) – Stock analysts at Jefferies Financial Group dropped their Q4 2022 earnings per share estimates for Barrick Gold in a research note issued on Tuesday, January 17th. Jefferies Financial Group analyst C. Lafemina now expects that the basic materials company will post earnings of $0.22 per share for the quarter, down from their prior estimate of $0.35. The consensus estimate for Barrick Gold’s current full-year earnings is $1.05 per share. Jefferies Financial Group also issued estimates for Barrick Gold’s Q2 2023 earnings at $0.52 EPS, Q3 2023 earnings at $0.56 EPS, Q4 2023 earnings at $0.57 EPS, FY2023 earnings at $2.15 EPS, Q3 2024 earnings at $0.52 EPS, FY2024 earnings at $2.01 EPS and FY2025 earnings at $2.12 EPS.

Barrick Gold (TSE:ABX – Get Rating) (NYSE:ABX) last issued its quarterly earnings data on Thursday, November 3rd. The basic materials company reported C$0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.15 by C$0.02. The business had revenue of C$3.30 billion for the quarter, compared to analyst estimates of C$4.01 billion.

Several other research firms have also recently weighed in on ABX. National Bankshares lifted their price objective on shares of Barrick Gold from C$25.00 to C$30.00 and gave the stock a “sector perform” rating in a research report on Friday, January 13th. Fundamental Research reiterated a “buy” rating and issued a C$26.00 price objective on shares of Barrick Gold in a report on Tuesday, November 15th. Stifel Nicolaus cut their target price on shares of Barrick Gold from C$33.00 to C$29.00 in a research report on Tuesday, November 22nd. Canaccord Genuity Group cut their price objective on shares of Barrick Gold from C$29.00 to C$28.00 in a research report on Tuesday, November 22nd. Finally, Eight Capital cut their price objective on shares of Barrick Gold from C$32.00 to C$31.00 in a research report on Wednesday, October 26th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Barrick Gold presently has an average rating of “Moderate Buy” and a consensus price target of C$27.40.

Barrick Gold Price Performance

TSE ABX opened at C$25.35 on Friday. The stock has a market capitalization of C$44.79 billion and a P/E ratio of 17.73. Barrick Gold has a 1 year low of C$17.88 and a 1 year high of C$33.50. The business’s fifty day moving average is C$23.34 and its two-hundred day moving average is C$21.54. The company has a debt-to-equity ratio of 15.77, a quick ratio of 2.62 and a current ratio of 3.76.

Insider Activity

In related news, Director Dennis Mark Bristow bought 110,011 shares of Barrick Gold stock in a transaction that occurred on Thursday, November 17th. The stock was acquired at an average price of C$20.69 per share, with a total value of C$2,276,655.64. Following the acquisition, the director now owns 5,941,200 shares of the company’s stock, valued at approximately C$122,951,945.76. In other Barrick Gold news, Director Dennis Mark Bristow acquired 110,011 shares of the company’s stock in a transaction on Thursday, November 17th. The stock was acquired at an average price of C$20.69 per share, for a total transaction of C$2,276,655.64. Following the purchase, the director now directly owns 5,941,200 shares of the company’s stock, valued at C$122,951,945.76. Also, Senior Officer Grant Bill Beringer bought 10,837 shares of the company’s stock in a transaction dated Thursday, November 17th. The stock was purchased at an average price of C$20.69 per share, with a total value of C$224,269.55. Following the completion of the transaction, the insider now directly owns 45,071 shares in the company, valued at approximately C$932,735.33.

Barrick Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Tuesday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is presently 34.27%.

About Barrick Gold

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Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties. It has ownership interests in producing gold mines that are located in Argentina, Canada, Côte d'Ivoire, the Democratic Republic of Congo, Dominican Republic, Mali, Tanzania, and the United States.