Q2 2024 Earnings Forecast for Barrick Gold Co. (TSE:ABX) Issued By Zacks Research

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Analysts at Zacks Research lifted their Q2 2024 earnings estimates for shares of Barrick Gold in a research note issued on Wednesday, May 22nd. Zacks Research analyst A. Barman now forecasts that the basic materials company will post earnings per share of $0.30 for the quarter, up from their prior forecast of $0.26. The consensus estimate for Barrick Gold’s current full-year earnings is $1.44 per share. Zacks Research also issued estimates for Barrick Gold’s Q3 2024 earnings at $0.31 EPS, Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $1.19 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.37 EPS, Q4 2025 earnings at $0.51 EPS and FY2025 earnings at $1.53 EPS.

A number of other research firms also recently commented on ABX. Stifel Nicolaus boosted 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. TD Securities reissued a “buy” rating and issued a C$34.00 price objective on shares of Barrick Gold in a research note on Wednesday, May 1st. Eight Capital raised their target price 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, April 22nd. Raymond James reduced their price target on shares of Barrick Gold from C$28.00 to C$24.00 in a report on Friday, February 16th. Finally, National Bankshares dropped their price objective on shares of Barrick Gold from C$30.00 to C$28.00 and set a “sector perform” rating for the company in a research note on Friday, April 19th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$29.73.

Barrick Gold Stock Performance

ABX opened at C$23.27 on Friday. Barrick Gold has a 1-year low of C$18.65 and a 1-year high of C$26.05. The stock has a market cap of C$40.96 billion, a P/E ratio of 20.96, a P/E/G ratio of 1.94 and a beta of 0.46. The stock’s 50 day simple moving average is C$23.06 and its 200 day simple moving average is C$22.27. The company has a debt-to-equity ratio of 14.67, a current ratio of 3.32 and a quick ratio of 2.62.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its earnings results on Wednesday, May 1st. The basic materials company reported C$0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.22 by C$0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 6.83%. The company had revenue of C$3.70 billion during the quarter, compared to analysts’ expectations of C$3.98 billion.

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders 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 is an increase from Barrick Gold’s previous quarterly dividend of $0.10. This represents a $0.54 annualized dividend and a yield of 2.32%. Barrick Gold’s payout ratio is 49.55%.

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.