Barrick Gold Co. to Post FY2024 Earnings of $1.61 Per Share, Raymond James Forecasts (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Raymond James increased their FY2024 EPS estimates for shares of Barrick Gold in a report released on Tuesday, July 16th. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings per share of $1.61 for the year, up from their previous forecast of $1.59. The consensus estimate for Barrick Gold’s current full-year earnings is $1.45 per share.

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

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity Group lifted their price objective on shares of Barrick Gold from C$27.00 to C$30.00 in a research report on Tuesday, April 23rd. National Bankshares reduced their price target 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 report on Friday, April 19th. Veritas Investment Research boosted their price target on shares of Barrick Gold from C$20.70 to C$25.00 in a research report on Friday, April 12th. TD Securities reissued a “buy” rating and issued a C$34.00 price target on shares of Barrick Gold in a research report on Wednesday, May 1st. Finally, Stifel Nicolaus boosted 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 research report on Friday, April 19th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$29.91.

Barrick Gold Price Performance

Barrick Gold stock opened at C$25.27 on Friday. The stock has a market cap of C$44.48 billion, a P/E ratio of 22.36, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46. The company has a fifty day simple moving average of C$23.50 and a 200-day simple moving average of C$22.41. Barrick Gold has a 12-month low of C$18.65 and a 12-month high of C$26.58. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were paid a $0.135 dividend. The ex-dividend date of this dividend was Friday, May 31st. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.10. This represents a $0.54 dividend on an annualized basis and a yield of 2.14%. Barrick Gold’s payout ratio is currently 48.67%.

Insider Buying and Selling at Barrick Gold

In other Barrick Gold news, Director Andrew James Quinn sold 36,000 shares of Barrick Gold stock in a transaction on Thursday, June 20th. The shares were sold at an average price of C$23.00, for a total value of C$828,000.00. 0.61% of the stock is currently owned by company insiders.

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.