Raymond James Boosts Earnings Estimates for Barrick Gold

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Equities researchers at Raymond James increased their FY2024 earnings per share estimates for shares of Barrick Gold in a note issued to investors on Sunday, November 10th. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings of $1.78 per share for the year, up from their previous forecast of $1.73. The consensus estimate for Barrick Gold’s current full-year earnings is $2.24 per share.

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 the consensus estimate 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 net margin of 12.78% and a return on equity of 7.20%.

A number of other research analysts also recently issued reports on the stock. Argus upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Stifel Nicolaus lifted their target price on shares of Barrick Gold from C$28.50 to C$33.50 in a report on Monday, October 21st. UBS Group downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein decreased their price target on Barrick Gold from C$37.00 to C$36.00 in a research note on Tuesday, November 5th. Finally, TD Securities restated a “buy” rating and issued a C$34.00 price target on shares of Barrick Gold in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$31.14.

Barrick Gold Trading Down 5.5 %

Shares of ABX stock opened at C$24.22 on Tuesday. The stock has a market cap of C$42.39 billion, a price-to-earnings 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 company’s 50-day moving average price is C$27.28 and its 200-day moving average price is C$25.09. Barrick Gold has a twelve month low of C$18.65 and a twelve month high of C$29.50.

Barrick Gold Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.135 per share. The ex-dividend date is Friday, November 29th. This represents a $0.54 annualized dividend and a yield of 2.23%. Barrick Gold’s dividend payout ratio (DPR) is 45.38%.

Insider Activity at Barrick Gold

In related news, Director Andrew James Quinn bought 5,000 shares of Barrick Gold stock in a transaction on 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. In related news, Director Andrew James Quinn purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was purchased at an average cost of C$26.00 per share, for a total transaction of C$129,999.00. Also, Director Christopher Lewis Coleman sold 121,334 shares of Barrick Gold stock in a transaction dated 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. Insiders sold a total of 235,334 shares of company stock valued at $5,741,477 over the last quarter. Corporate insiders own 0.60% 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.