Research Analysts Set Expectations for Barrick Gold Co.’s Q1 2024 Earnings (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Analysts at Raymond James lowered their Q1 2024 earnings per share estimates for Barrick Gold in a research report issued to clients and investors on Tuesday, April 16th. Raymond James analyst B. Macarthur now expects that the basic materials company will earn $0.23 per share for the quarter, down from their prior estimate of $0.30. 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 Q2 2024 earnings at $0.29 EPS, Q3 2024 earnings at $0.29 EPS, Q4 2024 earnings at $0.30 EPS and FY2024 earnings at $1.12 EPS.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its earnings results on Wednesday, February 14th. The basic materials company reported C$0.37 EPS for the quarter, beating analysts’ consensus estimates of C$0.28 by C$0.09. The firm had revenue of C$4.16 billion for the quarter, compared to analysts’ expectations of C$4.28 billion. Barrick Gold had a return on equity of 6.17% and a net margin of 11.16%.

Several other research analysts also recently commented on ABX. Berenberg Bank raised their price objective on Barrick Gold from C$29.00 to C$31.00 in a report on Monday, April 8th. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. TD Securities restated a “buy” rating and set a C$29.00 price objective on shares of Barrick Gold in a report on Tuesday. Veritas Investment Research raised their price objective on Barrick Gold from C$20.70 to C$25.00 in a report on Friday, April 12th. Finally, Stifel Nicolaus reduced their price objective on Barrick Gold from C$30.00 to C$25.00 and set a “buy” rating on the stock in a report on Friday, January 26th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$28.40.

Barrick Gold Stock Up 1.6 %

Shares of TSE:ABX opened at C$23.38 on Thursday. The business’s 50 day moving average is C$21.51 and its 200 day moving average is C$21.96. The stock has a market cap of C$41.15 billion, a P/E ratio of 23.62, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46. Barrick Gold has a 52-week low of C$18.65 and a 52-week high of C$28.19. The company has a quick ratio of 2.62, a current ratio of 3.16 and a debt-to-equity ratio of 16.32.

Barrick Gold Cuts Dividend

The business 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. The ex-dividend date was Wednesday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.71%. Barrick Gold’s dividend payout ratio is presently 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.