Analysts Offer Predictions for Barrick Gold Co.’s Q2 2024 Earnings (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Stock analysts at Raymond James lowered their Q2 2024 earnings per share estimates for shares of Barrick Gold in a research note issued to investors on Wednesday, May 1st. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings of $0.43 per share for the quarter, down from their prior forecast of $0.44. The consensus estimate for Barrick Gold’s current full-year earnings is $1.45 per share.

A number of other equities research analysts have also weighed in on ABX. TD Securities reaffirmed a “buy” rating and set a C$34.00 target price on shares of Barrick Gold in a research note on Wednesday, May 1st. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. Sanford C. Bernstein increased their target price on Barrick Gold from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Canaccord Genuity Group lifted their price target on Barrick Gold from C$27.00 to C$30.00 in a research report on Tuesday, April 23rd. Finally, National Bankshares reduced 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 note on Friday, April 19th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$29.73.

Barrick Gold Stock Down 0.6 %

Shares of Barrick Gold stock opened at C$22.52 on Monday. The company has a current ratio of 3.32, a quick ratio of 2.62 and a debt-to-equity ratio of 14.67. Barrick Gold has a 12-month low of C$18.65 and a 12-month high of C$28.19. The company has a market cap of C$39.64 billion, a P/E ratio of 19.93, a PEG ratio of 1.94 and a beta of 0.46. The company’s fifty day simple moving average is C$22.24 and its two-hundred day simple moving average is C$22.17.

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

Barrick Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Friday, May 31st. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.10. Barrick Gold’s payout ratio is currently 48.67%.

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.