Q3 2024 Earnings Estimate for Barrick Gold Co. Issued By Raymond James (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Investment analysts at Raymond James reduced their Q3 2024 EPS estimates for Barrick Gold in a research report issued to clients and investors on Wednesday, September 25th. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings per share of $0.42 for the quarter, down from their prior forecast of $0.53. The consensus estimate for Barrick Gold’s current full-year earnings is $2.27 per share. Raymond James also issued estimates for Barrick Gold’s Q4 2024 earnings at $0.62 EPS and FY2024 earnings at $1.71 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 the consensus estimate 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 firm had revenue of C$4.33 billion for the quarter, compared to analysts’ expectations of C$4.12 billion.

Several other equities analysts have also commented on the company. Argus upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Canaccord Genuity Group increased their price target on shares of Barrick Gold from C$31.00 to C$33.00 in a research report on Tuesday, July 23rd. Finally, Eight Capital boosted their price objective on shares of Barrick Gold from C$36.00 to C$38.00 in a report on Thursday, July 11th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$30.18.

Barrick Gold Trading Up 1.9 %

TSE ABX opened at C$27.41 on Monday. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 14.54. The stock’s 50-day simple moving average is C$26.33 and its two-hundred day simple moving average is C$24.22. Barrick Gold has a twelve month low of C$18.65 and a twelve month high of C$28.67. The company has a market capitalization of C$47.97 billion, a price-to-earnings ratio of 23.43, a PEG ratio of 1.94 and a beta of 0.49.

Insider Transactions at Barrick Gold

In other Barrick Gold news, Director Christopher Lewis Coleman sold 121,334 shares of the company’s stock in a transaction that occurred 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. In other news, Senior Officer Riaan Grobler sold 94,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of C$18.99, for a total value of C$1,784,693.40. Also, Director Christopher Lewis Coleman sold 121,334 shares of Barrick Gold stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of C$28.10, for a total transaction of C$3,409,485.40. Over the last ninety days, insiders sold 235,334 shares of company stock worth $5,741,477. Company insiders own 0.61% of the company’s stock.

Barrick Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a dividend yield of 2.01%. This is an increase from Barrick Gold’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold’s dividend payout ratio is 46.15%.

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.