Barrick Gold Co. (TSE:ABX) to Post Q3 2024 Earnings of $0.42 Per Share, Raymond James Forecasts

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Investment analysts at Raymond James cut their Q3 2024 EPS estimates for shares of Barrick Gold in a report issued on Wednesday, September 25th. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings of $0.42 per share for the quarter, down from their previous estimate of $0.53. The consensus estimate for Barrick Gold’s current full-year earnings is $2.27 per share. Raymond James also issued estimates for Barrick Gold’s Q4 2024 earnings at $0.62 EPS and FY2024 earnings at $1.71 EPS.

Several other equities research analysts also recently issued reports on ABX. Canaccord Genuity Group raised their price target on Barrick Gold from C$31.00 to C$33.00 in a report on Tuesday, July 23rd. Argus upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Eight Capital raised their price objective on shares of Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Barrick Gold has an average rating of “Buy” and a consensus target price of C$30.18.

Barrick Gold Trading Up 1.9 %

Shares of Barrick Gold stock opened at C$27.41 on Monday. The stock has a market cap of C$47.97 billion, a P/E ratio of 23.43, a P/E/G ratio of 1.94 and a beta of 0.49. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 14.54. Barrick Gold has a 12-month low of C$18.65 and a 12-month high of C$28.67. The business’s 50 day moving average is C$26.33 and its 200-day moving average is C$24.22.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its earnings results on Monday, August 12th. The basic materials company reported C$0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.36 by C$0.08. The business had revenue of C$4.33 billion for the quarter, compared to analyst estimates of C$4.12 billion. Barrick Gold had a return on equity of 7.20% and a net margin of 12.78%.

Barrick Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.138 dividend. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.14. This represents a $0.55 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Friday, August 30th. Barrick Gold’s payout ratio is currently 46.15%.

Insider Activity at Barrick Gold

In related news, Senior Officer Riaan Grobler sold 94,000 shares of Barrick Gold stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of C$18.99, for a total transaction of C$1,784,693.40. In related news, Director Andrew James Quinn acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were purchased at an average price of C$26.00 per share, for a total transaction of C$129,999.00. Also, Senior Officer Riaan Grobler sold 94,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of C$18.99, for a total transaction of C$1,784,693.40. Insiders have sold 235,334 shares of company stock worth $5,741,477 over the last ninety days. Insiders own 0.61% of the company’s stock.

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.