Raymond James Comments on Barrick Gold Co.’s Q1 2024 Earnings (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Research analysts at Raymond James cut their Q1 2024 earnings per share (EPS) estimates for shares of Barrick Gold in a report released on Tuesday, April 16th. Raymond James analyst B. Macarthur now forecasts that the basic materials company will earn $0.23 per share for the quarter, down from their previous estimate 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 announced its quarterly earnings data on Wednesday, February 14th. The basic materials company reported C$0.37 EPS for the quarter, beating the consensus estimate of C$0.28 by C$0.09. The firm had revenue of C$4.16 billion for the quarter, compared to analyst estimates of C$4.28 billion. Barrick Gold had a return on equity of 6.17% and a net margin of 11.16%.

Other equities analysts have also issued reports about the company. TD Securities restated a “buy” rating and set a C$29.00 price target on shares of Barrick Gold in a research report on Tuesday. CIBC restated an “outperform” rating and set a C$31.00 price target on shares of Barrick Gold in a research report on Thursday, February 15th. Veritas Investment Research raised their price target on Barrick Gold from C$20.70 to C$25.00 in a research report on Friday, April 12th. Berenberg Bank lifted their price objective on Barrick Gold from C$29.00 to C$31.00 in a research report on Monday, April 8th. Finally, 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 research report on Friday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$28.60.

Barrick Gold Price Performance

ABX opened at C$23.53 on Thursday. The stock’s 50 day simple moving average is C$21.59 and its 200 day simple moving average is C$21.99. The company has a debt-to-equity ratio of 16.32, a current ratio of 3.16 and a quick ratio of 2.62. Barrick Gold has a 1 year low of C$18.65 and a 1 year high of C$28.19. The firm has a market cap of C$41.41 billion, a price-to-earnings ratio of 23.77, 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. Stockholders of record on Thursday, February 29th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Wednesday, February 28th. Barrick Gold’s payout ratio is presently 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.