Raymond James Comments on 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 brokerages have also recently issued reports on ABX. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. Berenberg Bank increased their price objective on Barrick Gold from C$29.00 to C$31.00 in a research note on Monday, April 8th. TD Securities reissued a “buy” rating and issued a C$29.00 price objective on shares of Barrick Gold in a research note on Tuesday. CIBC reissued an “outperform” rating and issued a C$31.00 price objective on shares of Barrick Gold in a research note on Thursday, February 15th. Finally, Veritas Investment Research increased their price objective on Barrick Gold from C$20.70 to C$25.00 in a research note on Friday, April 12th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Barrick Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of C$28.60.

Barrick Gold Trading Up 0.6 %

ABX opened at C$23.53 on Thursday. Barrick Gold has a one year low of C$18.65 and a one year high of C$28.19. The stock has a market cap of C$41.41 billion, a price-to-earnings ratio of 23.77, a P/E/G ratio of 1.94 and a beta of 0.46. The stock’s 50 day moving average price is C$21.59 and its 200-day moving average price is C$21.99. The company has a debt-to-equity ratio of 16.32, a quick ratio of 2.62 and a current ratio of 3.16.

Barrick Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.40 annualized dividend and a yield of 1.70%. Barrick Gold’s dividend payout ratio (DPR) is presently 54.55%.

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.