Cormark Issues Optimistic Forecast for Barrick Gold Earnings

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Cormark upped their FY2024 earnings per share (EPS) estimates for shares of Barrick Gold in a research note issued on Friday, November 8th. Cormark analyst R. Gray now expects that the basic materials company will post earnings per share of $1.67 for the year, up from their previous forecast of $1.65. 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 $0.54 EPS, FY2025 earnings at $2.52 EPS and FY2026 earnings at $2.86 EPS.

A number of other analysts have also recently commented on ABX. Sanford C. Bernstein cut their price target on shares of Barrick Gold from C$37.00 to C$36.00 in a research note on Tuesday, November 5th. Argus upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Stifel Nicolaus upped their price objective on Barrick Gold from C$28.50 to C$33.50 in a research note 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. Finally, Canaccord Genuity Group lifted their price objective on shares of Barrick Gold from C$31.00 to C$33.00 in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Barrick Gold currently has an average rating of “Moderate Buy” and a consensus price target of C$31.14.

Barrick Gold Trading Down 5.5 %

TSE ABX opened at C$24.22 on Monday. The company has a market cap of C$42.39 billion, a PE ratio of 21.53, a PEG ratio of 2.34 and a beta of 0.48. Barrick Gold has a 12 month low of C$18.65 and a 12 month high of C$29.50. The stock has a 50 day moving average of C$27.28 and a 200-day moving average of C$25.09. 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 (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings results on Monday, August 12th. The basic materials company reported C$0.44 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.36 by C$0.08. Barrick Gold had a return on equity of 7.20% and a net margin of 12.78%. The firm had revenue of C$4.33 billion during the quarter, compared to the consensus estimate of C$4.12 billion.

Barrick Gold Cuts Dividend

The firm 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. This represents a $0.54 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s dividend payout ratio is 45.38%.

Insider Buying and Selling at Barrick Gold

In other Barrick Gold news, Director Christopher Lewis Coleman sold 121,334 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of C$28.10, for a total transaction of C$3,409,485.40. In other Barrick Gold news, Senior Officer Joel James Holliday sold 20,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$27.36, for a total transaction of C$547,298.10. Also, Director Christopher Lewis Coleman sold 121,334 shares of the business’s stock in a transaction on 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 235,334 shares of company stock valued at $5,741,477 in the last quarter. Company 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.