Barrick Gold FY2024 EPS Reduced by National Bank Financial

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Investment analysts at National Bank Financial lowered their FY2024 earnings per share estimates for shares of Barrick Gold in a research report issued to clients and investors on Wednesday, January 15th. National Bank Financial analyst M. Parkin now forecasts that the basic materials company will post earnings per share of $1.92 for the year, down from their prior forecast of $2.01. The consensus estimate for Barrick Gold’s current full-year earnings is $2.24 per share. National Bank Financial also issued estimates for Barrick Gold’s FY2025 earnings at $2.59 EPS and FY2026 earnings at $2.74 EPS.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its earnings results on Thursday, November 7th. The basic materials company reported C$0.42 EPS for the quarter, missing analysts’ consensus estimates of C$0.45 by C($0.03). Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%. During the same quarter in the previous year, the firm earned $0.32 earnings per share.

ABX has been the subject of several other reports. National Bankshares cut their price target on shares of Barrick Gold from C$26.00 to C$24.00 and set a “sector perform” rating for the company in a report on Thursday, January 16th. TD Securities reiterated a “buy” rating and issued a C$34.00 price objective on shares of Barrick Gold in a research report on Wednesday, October 16th. TD Cowen restated a “buy” rating and set a C$36.00 target price on shares of Barrick Gold in a research report on Tuesday, January 14th. Royal Bank of Canada increased their price target on shares of Barrick Gold to C$21.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Sanford C. Bernstein decreased their price objective on shares of Barrick Gold from C$37.00 to C$36.00 in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$30.38.

Barrick Gold Stock Performance

Shares of ABX opened at C$22.90 on Monday. Barrick Gold has a 1 year low of C$18.65 and a 1 year high of C$29.50. The stock has a market capitalization of C$40.08 billion, a P/E ratio of 19.24, a P/E/G ratio of 2.34 and a beta of 0.48. 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 company’s fifty day moving average is C$23.46 and its two-hundred day moving average is C$25.21.

Barrick Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold’s dividend payout ratio is presently 45.38%.

Insider Activity at Barrick Gold

In other news, Director Dennis Mark Bristow bought 85,296 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were purchased at an average price of C$25.03 per share, for a total transaction of C$2,135,291.53. Also, Senior Officer Poupak Bahamin sold 2,500 shares of Barrick Gold stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of C$24.49, for a total transaction of C$61,215.00. 0.60% of the stock is currently owned by corporate insiders.

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.