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

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Raymond James boosted their Q2 2024 earnings estimates for shares of Barrick Gold in a research report issued on Tuesday, April 23rd. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings per share of $0.44 for the quarter, up from their previous forecast 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 results on Wednesday, February 14th. The basic materials company reported C$0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.28 by C$0.09. The company had revenue of C$4.16 billion during the quarter, compared to analyst estimates of C$4.28 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 6.17%.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus raised their price target on shares of Barrick Gold from C$25.00 to C$27.00 and gave the company a “buy” rating in a report on Friday, April 19th. Eight Capital raised their price target on shares of Barrick Gold from C$32.00 to C$36.00 and gave the company a “buy” rating in a report on Monday. CIBC reissued an “outperform” rating and issued a C$31.00 price objective on shares of Barrick Gold in a report on Thursday, February 15th. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Finally, 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. One investment 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, the company currently has an average rating of “Moderate Buy” and an average target price of C$29.27.

Barrick Gold Stock Up 3.1 %

TSE:ABX opened at C$23.33 on Friday. The firm has a market cap of C$41.06 billion, a P/E ratio of 23.57, a P/E/G 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. Barrick Gold has a fifty-two week low of C$18.65 and a fifty-two week high of C$28.19. The firm has a 50-day simple moving average of C$21.86 and a two-hundred day simple moving average of C$22.08.

Barrick Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Wednesday, February 28th. Barrick Gold’s dividend 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.