Research Analysts Offer Predictions for Barrick Gold Co.’s Q1 2024 Earnings (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Equities research analysts at Raymond James lowered their Q1 2024 EPS estimates for Barrick Gold in a report released on Tuesday, April 16th. Raymond James analyst B. Macarthur now anticipates that the basic materials company will earn $0.23 per share for the quarter, down from their previous forecast 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.

Other equities analysts have also issued reports about the stock. National Bankshares dropped their price target on shares of Barrick Gold from C$29.00 to C$28.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 6th. CIBC reaffirmed an “outperform” rating and set a C$31.00 price target on shares of Barrick Gold in a report on Thursday, February 15th. Stifel Nicolaus decreased their price target on Barrick Gold from C$30.00 to C$25.00 and set a “buy” rating for the company in a report on Friday, January 26th. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Finally, TD Securities reaffirmed a “buy” rating and set a C$29.00 price target on shares of Barrick Gold in a report on Tuesday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$28.10.

Barrick Gold Stock Performance

Shares of Barrick Gold stock opened at C$23.02 on Thursday. The firm has a market capitalization of C$40.52 billion, a P/E ratio of 23.25, a P/E/G ratio of 1.94 and a beta of 0.46. Barrick Gold has a 52 week low of C$18.65 and a 52 week high of C$28.19. The company has a quick ratio of 2.62, a current ratio of 3.16 and a debt-to-equity ratio of 16.32. The firm’s 50 day moving average is C$21.44 and its two-hundred day moving average is C$21.95.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings results 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 company had revenue of C$4.16 billion for 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%.

Barrick Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is currently 54.55%.

About Barrick Gold

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.