FY2024 EPS Estimates for Barrick Gold Decreased by Analyst

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Analysts at National Bank Financial lowered their FY2024 earnings estimates for shares of Barrick Gold in a report released on Wednesday, January 15th. National Bank Financial analyst M. Parkin now forecasts that the basic materials company will post earnings per share of $1.92 for the year, down from their prior forecast of $2.01. The consensus estimate for Barrick Gold’s current full-year earnings is $2.24 per share. National Bank Financial also issued estimates for Barrick Gold’s FY2025 earnings at $2.59 EPS and FY2026 earnings at $2.74 EPS.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its quarterly earnings data on Thursday, November 7th. The basic materials company reported C$0.42 EPS for the quarter, missing analysts’ consensus estimates of C$0.45 by C($0.03). Barrick Gold had a return on equity of 7.20% and a net margin of 12.78%. During the same period in the previous year, the company earned $0.32 earnings per share.

ABX has been the topic of several other research reports. Sanford C. Bernstein dropped their price target on shares of Barrick Gold from C$37.00 to C$36.00 in a research note on Tuesday, November 5th. TD Cowen reaffirmed a “buy” rating and issued a C$36.00 price target on shares of Barrick Gold in a report on Tuesday, January 14th. Stifel Nicolaus dropped their target price on shares of Barrick Gold from C$33.50 to C$32.00 in a research report on Monday, December 2nd. UBS Group lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group decreased their price target on Barrick Gold from C$33.50 to C$30.00 in a research note on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$30.38.

Barrick Gold Price Performance

ABX opened at C$22.90 on Monday. Barrick Gold has a 52-week low of C$18.65 and a 52-week high of C$29.50. The company has a 50 day moving average of C$23.46 and a two-hundred day moving average of C$25.21. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 14.54. The company has a market cap of C$40.08 billion, a P/E ratio of 19.24, a P/E/G ratio of 2.34 and a beta of 0.48.

Barrick Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $0.135 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.54 annualized dividend and a dividend yield of 2.36%. Barrick Gold’s payout ratio is currently 45.38%.

Insider Buying and Selling at Barrick Gold

In other news, Senior Officer Poupak Bahamin bought 5,778 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were bought at an average cost of C$25.03 per share, with a total value of C$144,645.87. Also, Director Dennis Mark Bristow bought 85,296 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was acquired at an average cost of C$25.03 per share, with a total value of C$2,135,291.53. 0.60% of the stock is owned by company insiders.

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.