Q2 2024 EPS Estimates for Barrick Gold Co. Lifted by Raymond James (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Investment analysts at Raymond James upped their Q2 2024 earnings per share (EPS) estimates for Barrick Gold in a research note issued to investors on Tuesday, April 23rd. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings per share of $0.44 for the quarter, up from their prior estimate of $0.29. 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 Q3 2024 earnings at $0.45 EPS, Q4 2024 earnings at $0.47 EPS and FY2024 earnings at $1.58 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, beating analysts’ consensus estimates of C$0.28 by C$0.09. The company had revenue of C$4.16 billion during the quarter, compared to analysts’ expectations of C$4.28 billion. Barrick Gold had a return on equity of 6.17% and a net margin of 11.16%.

Other analysts have also issued reports about the company. Sanford C. Bernstein raised their target price on Barrick Gold from C$31.00 to C$32.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Canaccord Genuity Group boosted their target price on Barrick Gold from C$27.00 to C$30.00 in a research report on Tuesday, April 23rd. Berenberg Bank lifted their price objective on Barrick Gold from C$29.00 to C$31.00 in a report on Monday, April 8th. National Bankshares cut their price objective on Barrick Gold from C$30.00 to C$28.00 and set a “sector perform” rating on the stock in a report on Friday, April 19th. Finally, Eight Capital boosted their target price on Barrick Gold from C$32.00 to C$36.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$29.27.

Barrick Gold Stock Performance

Shares of TSE:ABX opened at C$23.36 on Friday. Barrick Gold has a twelve month low of C$18.65 and a twelve month high of C$28.19. The firm has a market cap of C$41.11 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46. The company has a debt-to-equity ratio of 16.32, a quick ratio of 2.62 and a current ratio of 3.16. The business has a fifty day moving average of C$21.93 and a 200-day moving average of C$22.12.

Barrick Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Wednesday, February 28th. Barrick Gold’s dividend payout ratio is currently 54.55%.

Barrick Gold Company Profile

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.