Barrick Gold Co. (TSE:ABX) Forecasted to Earn Q3 2024 Earnings of $0.47 Per Share

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Investment analysts at Raymond James raised their Q3 2024 earnings estimates for Barrick Gold in a research note issued to investors on Wednesday, May 1st. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings per share of $0.47 for the quarter, up from their prior estimate of $0.45. The consensus estimate for Barrick Gold’s current full-year earnings is $1.45 per share. Raymond James also issued estimates for Barrick Gold’s Q4 2024 earnings at $0.48 EPS, FY2024 earnings at $1.64 EPS and FY2025 earnings at $1.84 EPS.

A number of other equities research analysts have also issued reports on the stock. Canaccord Genuity Group boosted their price target on shares of Barrick Gold from C$27.00 to C$30.00 in a report on Tuesday, April 23rd. Veritas Investment Research boosted their target price on shares of Barrick Gold from C$20.70 to C$25.00 in a research note on Friday, April 12th. Stifel Nicolaus raised their target price on Barrick Gold from C$25.00 to C$27.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. National Bankshares dropped their price target on Barrick Gold from C$30.00 to C$28.00 and set a “sector perform” rating on the stock in a research report on Friday, April 19th. Finally, CIBC reissued an “outperform” rating and issued a C$31.00 price objective on shares of Barrick Gold in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$29.73.

Barrick Gold Trading Down 0.6 %

Shares of ABX opened at C$22.52 on Friday. The business’s 50-day moving average price is C$22.24 and its 200 day moving average price is C$22.17. The company has a current ratio of 3.32, a quick ratio of 2.62 and a debt-to-equity ratio of 14.67. The stock has a market capitalization of C$39.64 billion, a P/E ratio of 19.93, a P/E/G ratio of 1.94 and a beta of 0.46. Barrick Gold has a 1-year low of C$18.65 and a 1-year high of C$27.00.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its earnings results 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 return on equity of 6.83% and a net margin of 12.58%. The business had revenue of C$4.16 billion for the quarter, compared to analysts’ expectations of C$4.28 billion.

Barrick Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a $0.135 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.54 dividend on an annualized basis and a yield of 2.40%. This is an increase from Barrick Gold’s previous quarterly dividend of $0.10. Barrick Gold’s dividend payout ratio is currently 48.67%.

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.