Raymond James Predicts Reduced Earnings for Barrick Gold

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Stock analysts at Raymond James lowered their Q3 2024 earnings per share (EPS) estimates for Barrick Gold in a report issued on Wednesday, October 16th. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings of $0.41 per share for the quarter, down from their prior 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 released its earnings results on Monday, August 12th. The basic materials company reported C$0.44 EPS for the quarter, beating the consensus estimate of C$0.36 by C$0.08. The firm had revenue of C$4.33 billion for the quarter, compared to analysts’ expectations of C$4.12 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%.

ABX has been the topic of several other reports. Argus upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. TD Securities restated a “buy” rating and set a C$34.00 price objective on shares of Barrick Gold in a research report on Wednesday. Canaccord Genuity Group increased their target price on shares of Barrick Gold from C$31.00 to C$33.00 in a research note on Tuesday, July 23rd. Finally, Eight Capital lifted 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 equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$30.18.

Barrick Gold Price Performance

TSE ABX opened at C$28.88 on Friday. Barrick Gold has a 12 month low of C$18.65 and a 12 month high of C$29.18. The firm has a market capitalization of C$50.54 billion, a PE ratio of 24.27, a P/E/G ratio of 2.34 and a beta of 0.48. The company’s 50 day simple moving average is C$26.89 and its 200 day simple moving average is C$24.70. The company has a debt-to-equity ratio of 14.54, a current ratio of 3.01 and a quick ratio of 2.62.

Insider Activity at Barrick Gold

In other news, Director Christopher Lewis Coleman sold 121,334 shares of the company’s 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. In other news, Director Christopher Lewis Coleman sold 121,334 shares of the company’s stock in a transaction on 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. Also, Director Andrew James Quinn acquired 5,000 shares of Barrick Gold stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average cost of C$26.00 per share, with a total value of C$129,999.00. Over the last ninety days, insiders have sold 235,334 shares of company stock valued at $5,741,477. Company insiders own 0.60% of the company’s stock.

Barrick Gold Increases Dividend

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