Raymond James Has Negative View of Barrick Gold Q3 Earnings

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Stock analysts at Raymond James dropped their Q3 2024 EPS estimates for Barrick Gold in a research note 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.

A number of other brokerages have also commented on ABX. Canaccord Genuity Group lifted their price target on shares of Barrick Gold from C$31.00 to C$33.00 in a report on Tuesday, July 23rd. Eight Capital upped their price target on Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th. TD Securities reissued a “buy” rating and issued a C$34.00 price target on shares of Barrick Gold in a research note on Wednesday. Finally, Argus raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Barrick Gold presently has an average rating of “Buy” and an average price target of C$30.18.

Barrick Gold Stock Up 2.4 %

TSE:ABX opened at C$28.07 on Friday. The company has a debt-to-equity ratio of 14.54, a current ratio of 3.01 and a quick ratio of 2.62. Barrick Gold has a one year low of C$18.65 and a one year high of C$28.67. The firm’s 50 day simple moving average is C$26.81 and its 200 day simple moving average is C$24.67. The company has a market cap of C$49.12 billion, a PE ratio of 23.59, a P/E/G ratio of 2.34 and a beta of 0.48.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its quarterly earnings results on Monday, August 12th. The basic materials company reported C$0.44 earnings per share for the quarter, topping the consensus estimate of C$0.36 by C$0.08. The company had revenue of C$4.33 billion for the quarter, compared to analysts’ expectations of C$4.12 billion. Barrick Gold had a return on equity of 7.20% and a net margin of 12.78%.

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 1.97%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend payout ratio is presently 45.38%.

Insider Transactions at Barrick Gold

In related news, Director Andrew James Quinn bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of C$26.00 per share, for a total transaction of C$129,999.00. In other Barrick Gold news, Senior Officer Riaan Grobler sold 94,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of C$18.99, for a total value of C$1,784,693.40. Also, Director Andrew James Quinn bought 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were purchased at an average cost of C$26.00 per share, for a total transaction of C$129,999.00. Insiders sold a total of 235,334 shares of company stock valued at $5,741,477 in the last quarter. 0.60% of the stock is currently owned by company 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.