Scotiabank Brokers Raise Earnings Estimates for Barrick Gold

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Stock analysts at Scotiabank boosted their FY2024 earnings estimates for shares of Barrick Gold in a report issued on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now anticipates that the basic materials company will post earnings per share of $1.65 for the year, up from their prior forecast of $1.51. The consensus estimate for Barrick Gold’s current full-year earnings is $2.24 per share. Scotiabank also issued estimates for Barrick Gold’s FY2026 earnings at $2.10 EPS.

A number of other equities research analysts have also recently commented on the company. Sanford C. Bernstein decreased their price objective on Barrick Gold from C$37.00 to C$36.00 in a research note on Tuesday, November 5th. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Stifel Nicolaus cut their price target on shares of Barrick Gold from C$33.50 to C$32.00 in a research report on Monday, December 2nd. TD Securities restated a “buy” rating and set a C$34.00 price objective on shares of Barrick Gold in a report on Wednesday, October 16th. Finally, UBS Group lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Barrick Gold currently has a consensus rating of “Moderate Buy” and an average price target of C$30.17.

Barrick Gold Price Performance

ABX opened at C$23.13 on Thursday. The company has a fifty day moving average price of C$23.89 and a two-hundred day moving average price of C$25.18. 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 firm has a market capitalization of C$40.48 billion, a PE ratio of 19.44, a P/E/G ratio of 2.34 and a beta of 0.48. Barrick Gold has a 52 week low of C$18.65 and a 52 week high of C$29.50.

Barrick Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.135 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.33%. Barrick Gold’s dividend payout ratio (DPR) is 45.38%.

Insider Transactions at Barrick Gold

In other Barrick Gold news, Director Dennis Mark Bristow purchased 85,296 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were purchased at an average cost of C$25.03 per share, with a total value of C$2,135,291.53. Also, Senior Officer Poupak Bahamin acquired 5,778 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was bought at an average price of C$25.03 per share, with a total value of C$144,645.87. 0.60% of the stock is owned by insiders.

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.