Raymond James Analysts Reduce Earnings Estimates for Barrick Gold Co. (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Investment analysts at Raymond James lowered their Q2 2024 earnings per share (EPS) estimates for shares of Barrick Gold in a research report issued on Wednesday, May 1st. Raymond James analyst B. Macarthur now anticipates that the basic materials company will earn $0.43 per share for the quarter, down from their previous forecast of $0.44. The consensus estimate for Barrick Gold’s current full-year earnings is $1.45 per share.

A number of other equities research analysts have also issued reports on ABX. Veritas Investment Research upped their target price on shares of Barrick Gold from C$20.70 to C$25.00 in a report on Friday, April 12th. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. Canaccord Genuity Group raised their target price on shares of Barrick Gold from C$27.00 to C$30.00 in a research note on Tuesday, April 23rd. Berenberg Bank upped their price target on Barrick Gold from C$29.00 to C$31.00 in a research report on Monday, April 8th. Finally, Eight Capital boosted their price objective on Barrick Gold from C$32.00 to C$36.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$29.73.

Barrick Gold Trading Up 0.9 %

Shares of TSE:ABX opened at C$22.99 on Monday. The firm has a market capitalization of C$40.46 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46. The business’s 50 day moving average price is C$22.37 and its 200-day moving average price is C$22.16. The company has a debt-to-equity ratio of 14.67, a current ratio of 3.32 and a quick ratio of 2.62. Barrick Gold has a 1 year low of C$18.65 and a 1 year high of C$27.00.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings results on Wednesday, February 14th. The basic materials company reported C$0.37 EPS for the quarter, beating the consensus estimate of C$0.28 by C$0.09. Barrick Gold had a net margin of 12.58% and a return on equity of 6.83%. The company had revenue of C$4.16 billion for the quarter, compared to analyst estimates of C$4.28 billion.

Barrick Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be paid a dividend of $0.135 per share. The ex-dividend date is Friday, May 31st. This is a boost from Barrick Gold’s previous quarterly dividend of $0.10. This represents a $0.54 annualized dividend and a yield of 2.35%. Barrick Gold’s dividend payout ratio (DPR) is 48.67%.

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.