Q2 2024 Earnings Estimate for Barrick Gold Co. Issued By Raymond James (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Research analysts at Raymond James cut their Q2 2024 earnings estimates for shares of Barrick Gold in a note issued to investors on Wednesday, May 1st. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings of $0.43 per share for the quarter, down from their previous estimate of $0.44. The consensus estimate for Barrick Gold’s current full-year earnings is $1.45 per share.

A number of other equities research analysts have also recently commented on ABX. Stifel Nicolaus upped their target price on shares of Barrick Gold from C$25.00 to C$27.00 and gave the company a “buy” rating in a report on Friday, April 19th. Sanford C. Bernstein upped their target price on shares of Barrick Gold from C$31.00 to C$32.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. National Bankshares reduced their target price on shares of Barrick Gold from C$30.00 to C$28.00 and set a “sector perform” rating for the company in a report on Friday, April 19th. Canaccord Genuity Group upped their target price on shares of Barrick Gold from C$27.00 to C$30.00 in a report on Tuesday, April 23rd. Finally, TD Securities reaffirmed a “buy” rating and issued a C$34.00 target price on shares of Barrick Gold in a report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$29.73.

Barrick Gold Price Performance

Shares of ABX opened at C$22.52 on Monday. Barrick Gold has a 1-year low of C$18.65 and a 1-year high of C$28.19. The stock has a market cap of C$39.64 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46. The company has a debt-to-equity ratio of 14.67, a current ratio of 3.32 and a quick ratio of 2.62. The firm has a fifty day moving average price of C$22.24 and a 200 day moving average price of C$22.17.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings results on Wednesday, February 14th. The basic materials company reported C$0.37 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.28 by C$0.09. Barrick Gold had a net margin of 12.58% and a return on equity of 6.83%. The firm had revenue of C$4.16 billion during the quarter, compared to analysts’ expectations of C$4.28 billion.

Barrick Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a dividend of $0.135 per share. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.10. This represents a $0.54 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Friday, May 31st. Barrick Gold’s dividend payout ratio is presently 48.67%.

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.