Brokers Offer Predictions for Barrick Gold Co.’s Q2 2024 Earnings (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Equities research analysts at Raymond James lifted their Q2 2024 earnings per share estimates for Barrick Gold in a research note issued on Tuesday, April 23rd. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings of $0.44 per share 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.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings data on Wednesday, February 14th. The basic materials company reported C$0.37 earnings per share for the quarter, beating the consensus estimate of C$0.28 by C$0.09. The firm 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%.

Several other equities analysts also recently issued reports on the company. Berenberg Bank boosted their price objective on Barrick Gold from C$29.00 to C$31.00 in a research report on Monday, April 8th. CIBC restated an “outperform” rating and issued a C$31.00 target price on shares of Barrick Gold in a research report on Thursday, February 15th. Veritas Investment Research upped their target price on Barrick Gold from C$20.70 to C$25.00 in a research report on Friday, April 12th. Stifel Nicolaus upped their target price on Barrick Gold from C$25.00 to C$27.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Finally, Sanford C. Bernstein upped their target price on Barrick Gold from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Barrick Gold currently has an average rating of “Moderate Buy” and an average price target of C$29.27.

Barrick Gold Stock Up 3.1 %

TSE:ABX opened at C$23.33 on Friday. The firm has a market capitalization of C$41.06 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46. The stock has a 50 day moving average of C$21.86 and a 200-day moving average of C$22.08. Barrick Gold has a 52 week low of C$18.65 and a 52 week high of C$28.19. The company has a current ratio of 3.16, a quick ratio of 2.62 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 paid 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 (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.