Cormark Issues Positive Outlook for Barrick Gold Earnings

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Analysts at Cormark lifted their Q3 2024 EPS estimates for Barrick Gold in a note issued to investors on Thursday, October 17th. Cormark analyst R. Gray now anticipates that the basic materials company will earn $0.48 per share for the quarter, up from their prior estimate of $0.45. 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 $0.49 EPS, FY2024 earnings at $1.65 EPS and FY2025 earnings at $2.27 EPS.

Several other research analysts have also weighed in on the stock. Argus raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Eight Capital increased their price target on shares of Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th. Canaccord Genuity Group increased their price target on shares of Barrick Gold from C$31.00 to C$33.00 in a research report on Tuesday, July 23rd. Finally, TD Securities reaffirmed a “buy” rating and issued a C$34.00 target price on shares of Barrick Gold in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$30.18.

Barrick Gold Trading Up 2.9 %

Shares of ABX opened at C$28.88 on Monday. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 14.54. Barrick Gold has a 12-month low of C$18.65 and a 12-month high of C$29.18. The firm has a 50-day moving average price of C$26.89 and a 200 day moving average price of C$24.72. The firm has a market capitalization 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 (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings data 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. Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%. The firm had revenue of C$4.33 billion during the quarter, compared to analyst estimates of C$4.12 billion.

Insider Transactions at Barrick Gold

In related news, Director Christopher Lewis Coleman sold 121,334 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of C$28.10, for a total value of C$3,409,485.40. In other Barrick Gold news, 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. Also, Director Andrew James Quinn purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average price of C$26.00 per share, with a total value of C$129,999.00. Insiders sold 235,334 shares of company stock valued at $5,741,477 in the last 90 days. 0.60% of the stock is currently owned by insiders.

Barrick Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Friday, August 30th. This is an increase from Barrick Gold’s previous quarterly dividend of $0.14. Barrick Gold’s payout ratio is 45.38%.

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.