Research Analysts Issue Forecasts for Barrick Gold Co.’s Q2 2024 Earnings (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Equities research analysts at Raymond James increased their Q2 2024 EPS estimates for shares of Barrick Gold in a report released on Tuesday, April 23rd. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings of $0.44 per share for the quarter, up from their previous estimate 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.

A number of other equities research analysts also recently issued reports on ABX. Berenberg Bank boosted their price target on shares of Barrick Gold from C$29.00 to C$31.00 in a research note on Monday, April 8th. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. Sanford C. Bernstein upped their price target on Barrick Gold from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Canaccord Genuity Group lifted their price objective on Barrick Gold from C$27.00 to C$30.00 in a research note on Tuesday. Finally, TD Securities reiterated a “buy” rating and issued a C$29.00 price objective on shares of Barrick Gold in a report on Tuesday, April 16th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average price target of C$29.27.

Barrick Gold Trading Up 0.1 %

TSE ABX opened at C$23.36 on Friday. The company has a debt-to-equity ratio of 16.32, a current ratio of 3.16 and a quick ratio of 2.62. The stock has a market capitalization of C$41.11 billion, a P/E ratio of 23.60, a PEG ratio of 1.94 and a beta of 0.46. The firm’s 50-day moving average is C$21.93 and its two-hundred day moving average is C$22.10. Barrick Gold has a 12 month low of C$18.65 and a 12 month high of C$28.19.

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 business had revenue of C$4.16 billion for the quarter, compared to analyst estimates of C$4.28 billion. Barrick Gold had a return on equity of 6.17% and a net margin of 11.16%.

Barrick Gold Cuts Dividend

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