Barrick Gold Co. Expected to Earn Q3 2024 Earnings of $0.47 Per Share (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Stock analysts at Raymond James upped their Q3 2024 earnings estimates for Barrick Gold in a report issued on Wednesday, May 1st. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings per share of $0.47 for the quarter, up from their prior forecast of $0.45. The consensus estimate for Barrick Gold’s current full-year earnings is $1.20 per share. Raymond James also issued estimates for Barrick Gold’s Q4 2024 earnings at $0.48 EPS, FY2024 earnings at $1.64 EPS and FY2025 earnings at $1.84 EPS.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings data on Wednesday, February 14th. The basic materials company reported C$0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.28 by C$0.09. The firm had revenue of C$4.16 billion during the quarter, compared to analysts’ expectations of C$4.28 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 6.17%.

Other analysts have also issued research reports about the stock. Eight Capital lifted their price objective on shares of Barrick Gold from C$32.00 to C$36.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Berenberg Bank increased their price objective on Barrick Gold from C$29.00 to C$31.00 in a research report on Monday, April 8th. National Bankshares decreased their price objective on shares of Barrick Gold from C$30.00 to C$28.00 and set a “sector perform” rating on the stock in a research report on Friday, April 19th. TD Securities reaffirmed a “buy” rating and set a C$34.00 price target on shares of Barrick Gold in a research note on Wednesday. Finally, Veritas Investment Research upped their price objective on Barrick Gold from C$20.70 to C$25.00 in a report on Friday, April 12th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and an average target price of C$29.73.

Barrick Gold Stock Down 0.6 %

ABX opened at C$22.52 on Friday. The company has a debt-to-equity ratio of 16.32, a current ratio of 3.16 and a quick ratio of 2.62. The company’s 50-day moving average is C$22.19 and its 200 day moving average is C$22.16. Barrick Gold has a fifty-two week low of C$18.65 and a fifty-two week high of C$28.19. The firm has a market capitalization of C$39.64 billion, a P/E ratio of 22.75, a PEG ratio of 1.94 and a beta of 0.46.

Barrick Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a $0.135 dividend. The ex-dividend date is Friday, May 31st. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.10. This represents a $0.54 annualized dividend and a yield of 2.40%. Barrick Gold’s dividend payout ratio (DPR) is 54.55%.

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.