Equities Analysts Offer Predictions for Barrick Gold Co.’s Q1 2023 Earnings (TSE:ABX)

Barrick Gold Co. (TSE:ABX – Get Rating) (NYSE:ABX) – Equities researchers at Raymond James lifted their Q1 2023 earnings estimates for Barrick Gold in a report released on Tuesday, January 17th. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings per share of $22.78 for the quarter, up from their previous forecast of $0.23. The consensus estimate for Barrick Gold’s current full-year earnings is $1.05 per share. Raymond James also issued estimates for Barrick Gold’s FY2023 earnings at $0.88 EPS.

Barrick Gold (TSE:ABX – Get Rating) (NYSE:ABX) last released its quarterly earnings results on Thursday, November 3rd. The basic materials company reported C$0.17 EPS for the quarter, beating analysts’ consensus estimates of C$0.15 by C$0.02. The business had revenue of C$3.30 billion during the quarter, compared to analysts’ expectations of C$4.01 billion.

A number of other research analysts have also issued reports on ABX. National Bankshares upped their price target on shares of Barrick Gold from C$25.00 to C$30.00 and gave the company a “sector perform” rating in a research note on Friday, January 13th. Eight Capital dropped their price target on shares of Barrick Gold from C$32.00 to C$31.00 in a research report on Wednesday, October 26th. Cormark dropped their price objective on Barrick Gold from C$28.00 to C$27.00 in a report on Wednesday. Canaccord Genuity Group cut their target price on shares of Barrick Gold from C$29.00 to C$28.00 in a research note on Tuesday, November 22nd. Finally, Sanford C. Bernstein increased their price objective on Barrick Gold from C$21.00 to C$24.00 in a research note on Friday, January 6th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$27.40.

Barrick Gold Stock Performance

ABX opened at C$25.35 on Friday. The company has a market cap of C$44.79 billion and a P/E ratio of 17.73. The company has a quick ratio of 2.62, a current ratio of 3.76 and a debt-to-equity ratio of 15.77. The firm’s 50-day moving average price is C$23.34 and its 200-day moving average price is C$21.54. Barrick Gold has a 52-week low of C$17.88 and a 52-week high of C$33.50.

Insider Buying and Selling at Barrick Gold

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

Barrick Gold Cuts Dividend

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

Barrick Gold Company Profile

(Get Rating)

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.