Analysts Issue Forecasts for Barrick Gold Q3 Earnings

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Equities researchers at National Bank Financial issued their Q3 2024 earnings per share (EPS) estimates for shares of Barrick Gold in a research report issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin anticipates that the basic materials company will earn $0.48 per share for the quarter. The consensus estimate for Barrick Gold’s current full-year earnings is $2.24 per share.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus increased their price target on Barrick Gold from C$28.50 to C$33.50 in a research note on Monday, October 21st. Canaccord Genuity Group increased their price objective on Barrick Gold from C$31.00 to C$33.00 in a report on Tuesday, July 23rd. TD Securities reissued a “buy” rating and issued a C$34.00 price objective on shares of Barrick Gold in a report on Wednesday, October 16th. Argus raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Finally, Eight Capital increased their price objective on Barrick Gold from C$36.00 to C$38.00 in a report on Thursday, July 11th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$30.77.

Barrick Gold Stock Performance

The company has a 50 day simple moving average of C$27.28 and a 200-day simple moving average of C$24.91. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01. Barrick Gold has a 12 month low of C$18.65 and a 12 month high of C$29.50. The stock has a market capitalization of C$47.71 billion, a PE ratio of 22.90, a PEG 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 EPS for the quarter, beating analysts’ consensus estimates of C$0.36 by C$0.08. Barrick Gold had a return on equity of 7.20% and a net margin of 12.78%. The company had revenue of C$4.33 billion during the quarter, compared to analysts’ expectations of C$4.12 billion.

Barrick Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $0.138 dividend. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.14. This represents a $0.55 annualized dividend and a yield of ?. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend payout ratio (DPR) is presently 45.38%.

Insider Activity

In other news, Director Christopher Lewis Coleman sold 121,334 shares of the firm’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 value of C$3,409,485.40. In related news, Director Andrew James Quinn acquired 5,000 shares of Barrick Gold stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average price 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 Barrick Gold 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 value of C$3,409,485.40. Insiders have sold a total of 235,334 shares of company stock worth $5,741,477 over the last quarter. 0.60% of the stock is currently owned by corporate 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.