Stifel Canada Comments on Barrick Gold Q3 Earnings

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Research analysts at Stifel Canada issued their Q3 2024 earnings per share (EPS) estimates for shares of Barrick Gold in a report issued on Monday, October 21st. Stifel Canada analyst I. Rico expects that the basic materials company will earn $0.44 per share for the quarter. The consensus estimate for Barrick Gold’s current full-year earnings is $2.24 per share. Stifel Canada also issued estimates for Barrick Gold’s FY2024 earnings at $1.92 EPS.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings data 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 net margin of 12.78% and a return on equity of 7.20%. The business had revenue of C$4.33 billion for the quarter, compared to analysts’ expectations of C$4.12 billion.

ABX has been the topic of a number of other research reports. TD Securities restated a “buy” rating and issued a C$34.00 price objective on shares of Barrick Gold in a report on Wednesday, October 16th. Stifel Nicolaus increased their target price on shares of Barrick Gold from C$28.50 to C$33.50 in a report on Monday. Argus raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Canaccord Genuity Group raised their price objective on shares of Barrick Gold from C$31.00 to C$33.00 in a report on Tuesday, July 23rd. Finally, Eight Capital upped their price target on Barrick Gold from C$36.00 to C$38.00 in a research note 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, Barrick Gold has an average rating of “Buy” and a consensus target price of C$30.77.

Barrick Gold Trading Down 1.7 %

Shares of TSE:ABX opened at C$28.77 on Wednesday. The business has a 50-day moving average price of C$27.19 and a 200-day moving average price of C$24.87. The stock has a market cap of C$50.35 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 2.34 and a beta of 0.48. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 14.54. Barrick Gold has a 52-week low of C$18.65 and a 52-week high of C$29.50.

Insider Activity

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

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 1.92%. This is an increase from Barrick Gold’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, August 30th. Barrick Gold’s payout ratio is 45.38%.

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.