Raymond James Equities Analysts Increase Earnings Estimates for Barrick Gold Co. (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Investment analysts at Raymond James lifted their Q3 2024 EPS estimates for shares of Barrick Gold in a note issued to investors on Monday, September 23rd. Raymond James analyst B. Macarthur now anticipates that the basic materials company will earn $0.53 per share for the quarter, up from their prior estimate of $0.47. The consensus estimate for Barrick Gold’s current full-year earnings is $2.27 per share. Raymond James also issued estimates for Barrick Gold’s Q1 2025 earnings at $0.63 EPS, Q2 2025 earnings at $0.65 EPS, Q3 2025 earnings at $0.65 EPS, Q4 2025 earnings at $0.68 EPS and FY2025 earnings at $2.61 EPS.

A number of other research analysts have also issued reports on the stock. Eight Capital increased their target price on shares of Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th. Argus raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Canaccord Genuity Group lifted their price objective on Barrick Gold from C$31.00 to C$33.00 in a report on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$30.18.

Barrick Gold Price Performance

TSE:ABX opened at C$28.32 on Thursday. Barrick Gold has a 52 week low of C$18.65 and a 52 week high of C$28.67. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01. The firm’s 50-day simple moving average is C$26.18 and its 200 day simple moving average is C$24.02. The firm has a market cap of C$49.56 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 1.94 and a beta of 0.49.

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

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.138 dividend. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.55 annualized dividend and a dividend yield of 1.95%. Barrick Gold’s dividend payout ratio (DPR) is presently 46.15%.

Insider Transactions at Barrick Gold

In related news, Senior Officer Joel James Holliday sold 20,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of C$27.36, for a total value of C$547,298.10. In related news, Director Andrew James Quinn purchased 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was bought at an average cost of C$26.00 per share, for a total transaction of C$129,999.00. Also, Senior Officer Joel James Holliday sold 20,000 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of C$27.36, for a total value of C$547,298.10. 0.61% of the stock is owned by 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.