Barrick Gold Co. (TSE:ABX) Expected to Earn Q2 2024 Earnings of $0.38 Per Share

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Analysts at Raymond James lowered their Q2 2024 EPS estimates for Barrick Gold in a report released on Thursday, July 4th. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings of $0.38 per share for the quarter, down from their previous estimate of $0.43. The consensus estimate for Barrick Gold’s current full-year earnings is $1.45 per share. Raymond James also issued estimates for Barrick Gold’s Q2 2025 earnings at $0.45 EPS and Q4 2025 earnings at $0.49 EPS.

Several other research analysts have also recently commented on ABX. Berenberg Bank raised their target price on shares of Barrick Gold from C$29.00 to C$31.00 in a report on Monday, April 8th. Veritas Investment Research raised their price objective on shares of Barrick Gold from C$20.70 to C$25.00 in a research note on Friday, April 12th. Stifel Nicolaus lifted their price objective on shares of Barrick Gold from C$25.00 to C$27.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Canaccord Genuity Group increased their target price on Barrick Gold from C$27.00 to C$30.00 in a report on Tuesday, April 23rd. Finally, Sanford C. Bernstein lifted their price target on Barrick Gold from C$31.00 to C$32.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$29.73.

Barrick Gold Trading Up 0.3 %

TSE:ABX opened at C$23.79 on Monday. The stock has a fifty day simple moving average of C$23.12 and a 200 day simple moving average of C$22.33. The company has a quick ratio of 2.62, a current ratio of 3.32 and a debt-to-equity ratio of 14.67. The firm has a market capitalization of C$41.87 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46. Barrick Gold has a 1-year low of C$18.65 and a 1-year high of C$26.05.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its earnings results on Wednesday, May 1st. The basic materials company reported C$0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.22 by C$0.04. Barrick Gold had a return on equity of 6.83% and a net margin of 12.58%. The business had revenue of C$3.70 billion for the quarter, compared to analysts’ expectations of C$3.98 billion.

Barrick Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 2.27%. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.10. The ex-dividend date was Friday, May 31st. Barrick Gold’s payout ratio is currently 48.67%.

Insider Activity at Barrick Gold

In other Barrick Gold news, Director Andrew James Quinn sold 36,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$23.00, for a total value of C$828,000.00. 0.61% of the stock is currently owned by company 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.