Research Analysts Offer Predictions for Barrick Gold Co.’s Q1 2024 Earnings (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Investment analysts at Raymond James reduced their Q1 2024 EPS estimates for shares of Barrick Gold in a research report issued to clients and investors on Tuesday, April 16th. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings of $0.23 per share for the quarter, down from their prior forecast of $0.30. The consensus estimate for Barrick Gold’s current full-year earnings is $1.20 per share. Raymond James also issued estimates for Barrick Gold’s Q2 2024 earnings at $0.29 EPS, Q3 2024 earnings at $0.29 EPS, Q4 2024 earnings at $0.30 EPS and FY2024 earnings at $1.12 EPS.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings data on Wednesday, February 14th. The basic materials company reported C$0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.28 by C$0.09. Barrick Gold had a net margin of 11.16% and a return on equity of 6.17%. The firm had revenue of C$4.16 billion for the quarter, compared to the consensus estimate of C$4.28 billion.

A number of other brokerages also recently issued reports on ABX. TD Securities reaffirmed a “buy” rating and issued a C$29.00 price objective on shares of Barrick Gold in a research report on Tuesday. Veritas Investment Research boosted their target price on shares of Barrick Gold from C$20.70 to C$25.00 in a research report on Friday, April 12th. Sanford C. Bernstein dropped their target price on shares of Barrick Gold from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a research report on Thursday, January 25th. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. Finally, Stifel Nicolaus dropped their target price on shares of Barrick Gold from C$30.00 to C$25.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$28.10.

Barrick Gold Stock Up 1.1 %

Shares of Barrick Gold stock opened at C$23.02 on Thursday. The firm’s 50 day moving average price is C$21.44 and its 200-day moving average price is C$21.95. The company has a quick ratio of 2.62, a current ratio of 3.16 and a debt-to-equity ratio of 16.32. Barrick Gold has a 52-week low of C$18.65 and a 52-week high of C$28.19. The company has a market cap of C$40.52 billion, a P/E ratio of 23.25, a PEG ratio of 1.94 and a beta of 0.46.

Barrick Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s dividend payout ratio is currently 54.55%.

About Barrick Gold

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties in Canada and internationally. The company also explores and sells silver and energy materials. It has ownership interests in producing gold mines located in Argentina, Canada, Côte d'Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States.