Q1 2024 Earnings Forecast for Barrick Gold Co. (TSE:ABX) Issued By Cormark

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Investment analysts at Cormark decreased their Q1 2024 EPS estimates for Barrick Gold in a report issued on Wednesday, April 17th. Cormark analyst R. Gray now expects that the basic materials company will earn $0.21 per share for the quarter, down from their prior forecast of $0.23. The consensus estimate for Barrick Gold’s current full-year earnings is $1.20 per share. Cormark also issued estimates for Barrick Gold’s FY2024 earnings at $0.91 EPS.

A number of other research firms also recently weighed in on ABX. TD Securities restated a “buy” rating and issued a C$29.00 price target on shares of Barrick Gold in a research note on Tuesday. Stifel Nicolaus reduced their price target on shares of Barrick Gold from C$30.00 to C$25.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Veritas Investment Research raised their price objective on shares of Barrick Gold from C$20.70 to C$25.00 in a report on Friday, April 12th. National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Finally, Berenberg Bank raised their price objective on shares of Barrick Gold from C$29.00 to C$31.00 in a report on Monday, April 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$28.40.

Barrick Gold Trading Up 1.6 %

ABX opened at C$23.38 on Thursday. The company’s 50 day moving average is C$21.51 and its 200-day moving average is C$21.96. Barrick Gold has a 1-year low of C$18.65 and a 1-year high of C$28.19. The company has a current ratio of 3.16, a quick ratio of 2.62 and a debt-to-equity ratio of 16.32. The company has a market cap of C$41.15 billion, a P/E ratio of 23.62, a PEG ratio of 1.94 and a beta of 0.46.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings results on Wednesday, February 14th. The basic materials company reported C$0.37 earnings per share for the quarter, beating 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 company had revenue of C$4.16 billion for the quarter, compared to the consensus estimate of C$4.28 billion.

Barrick Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.40 annualized dividend and a yield of 1.71%. Barrick Gold’s payout ratio is 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.