Barrick Gold Co. (TSE:ABX) Forecasted to Earn Q2 2024 Earnings of $0.44 Per Share

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Equities researchers at Raymond James raised their Q2 2024 EPS estimates for shares of Barrick Gold in a research report issued on Tuesday, April 23rd. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings per share of $0.44 for the quarter, up from their prior forecast of $0.29. The consensus estimate for Barrick Gold’s current full-year earnings is $1.20 per share. Raymond James also issued estimates for Barrick Gold’s Q3 2024 earnings at $0.45 EPS, Q4 2024 earnings at $0.47 EPS and FY2024 earnings at $1.58 EPS.

ABX has been the topic of a number of other reports. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. National Bankshares reduced their target price on Barrick Gold from C$30.00 to C$28.00 and set a “sector perform” rating on the stock in a research note on Friday, April 19th. Eight Capital boosted their target price on shares of Barrick Gold from C$32.00 to C$36.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. TD Securities reaffirmed a “buy” rating and issued a C$29.00 price target on shares of Barrick Gold in a research note on Tuesday, April 16th. Finally, Veritas Investment Research boosted their price objective on shares of Barrick Gold from C$20.70 to C$25.00 in a research report on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$29.27.

Barrick Gold Stock Up 0.1 %

TSE ABX opened at C$23.36 on Friday. Barrick Gold has a 52 week low of C$18.65 and a 52 week high of C$28.19. The firm has a market capitalization of C$41.11 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.94 and a beta of 0.46. The company has a quick ratio of 2.62, a current ratio of 3.16 and a debt-to-equity ratio of 16.32. The company has a fifty day moving average of C$21.93 and a two-hundred day moving average of C$22.10.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings data on Wednesday, February 14th. The basic materials company reported C$0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.28 by C$0.09. The business had revenue of C$4.16 billion during the quarter, compared to analyst estimates of C$4.28 billion. Barrick Gold had a return on equity of 6.17% and a net margin of 11.16%.

Barrick Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Wednesday, February 28th. Barrick Gold’s dividend payout ratio is currently 54.55%.

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.