Cormark Comments on Barrick Gold’s FY2024 Earnings (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Investment analysts at Cormark upped their FY2024 EPS estimates for Barrick Gold in a research note issued to investors on Friday, November 8th. Cormark analyst R. Gray now expects that the basic materials company will post earnings per share of $1.67 for the year, up from their previous estimate of $1.65. The consensus estimate for Barrick Gold’s current full-year earnings is $2.24 per share. Cormark also issued estimates for Barrick Gold’s Q4 2024 earnings at $0.54 EPS, FY2025 earnings at $2.52 EPS and FY2026 earnings at $2.86 EPS.

A number of other research firms have also issued reports on ABX. TD Securities reaffirmed a “buy” rating and issued a C$34.00 price target on shares of Barrick Gold in a research report on Wednesday, October 16th. Stifel Nicolaus boosted their price target on shares of Barrick Gold from C$28.50 to C$33.50 in a report on Monday, October 21st. Argus raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Sanford C. Bernstein decreased their price objective on shares of Barrick Gold from C$37.00 to C$36.00 in a research report on Tuesday, November 5th. Finally, UBS Group lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$31.14.

Barrick Gold Stock Down 0.0 %

Shares of TSE ABX opened at C$25.62 on Monday. Barrick Gold has a 12-month low of C$18.65 and a 12-month high of C$29.50. The stock has a market cap of C$44.84 billion, a P/E ratio of 21.53, a PEG ratio of 2.34 and a beta of 0.48. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 14.54. The business’s fifty day simple moving average is C$27.28 and its 200-day simple moving average is C$25.09.

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

Barrick Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.54 dividend on an annualized basis and a yield of 2.11%. Barrick Gold’s dividend payout ratio is presently 45.38%.

Insider Buying and Selling at Barrick Gold

In related news, Senior Officer Riaan Grobler sold 94,000 shares of the firm’s 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. In other news, Senior Officer Riaan Grobler sold 94,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of C$18.99, for a total value of C$1,784,693.40. Also, Director Christopher Lewis Coleman sold 121,334 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of C$28.10, for a total value of C$3,409,485.40. Over the last three months, insiders have sold 235,334 shares of company stock worth $5,741,477. 0.60% of the stock is 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.