Q3 EPS Estimates for Barrick Gold Reduced by Raymond James

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Raymond James decreased their Q3 2024 earnings per share estimates for shares of Barrick Gold in a report released on Wednesday, October 16th. Raymond James analyst B. Macarthur now forecasts that the basic materials company will earn $0.41 per share for the quarter, down from their previous estimate of $0.42. The consensus estimate for Barrick Gold’s current full-year earnings is $2.24 per share. Raymond James also issued estimates for Barrick Gold’s Q4 2024 earnings at $0.63 EPS.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its earnings results on Monday, August 12th. The basic materials company reported C$0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%.

Other analysts have also issued research reports about the company. Argus raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Canaccord Genuity Group raised their price objective on shares of Barrick Gold from C$31.00 to C$33.00 in a research note on Tuesday, July 23rd. TD Securities reiterated a “buy” rating and set a C$34.00 target price on shares of Barrick Gold in a research note on Wednesday. Finally, Eight Capital raised their price target on shares of Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$30.18.

Barrick Gold Trading Up 2.9 %

Shares of TSE:ABX opened at C$28.88 on Friday. 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 stock’s 50-day moving average is C$26.89 and its 200-day moving average is C$24.70. The company has a market cap of C$50.54 billion, a P/E ratio of 24.27, a P/E/G ratio of 2.34 and a beta of 0.48. Barrick Gold has a 52-week low of C$18.65 and a 52-week high of C$29.18.

Insider Buying and Selling at Barrick Gold

In other news, Director Andrew James Quinn bought 5,000 shares of Barrick Gold stock in a transaction dated Wednesday, August 14th. The shares were bought at an average price of C$26.00 per share, for a total transaction of C$129,999.00. In related news, Senior Officer Joel James Holliday sold 20,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of C$27.36, for a total transaction of C$547,298.10. Also, Director Andrew James Quinn bought 5,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average cost of C$26.00 per share, with a total value of C$129,999.00. Insiders have sold 235,334 shares of company stock worth $5,741,477 over the last three months. Company insiders own 0.60% of the company’s stock.

Barrick Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors 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 yield of 1.91%. Barrick Gold’s payout ratio is currently 45.38%.

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.