Cormark Issues Positive Estimate for Barrick Gold Earnings

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Investment analysts at Cormark raised their Q3 2024 EPS estimates for shares of Barrick Gold in a research report issued to clients and investors on Thursday, October 17th. Cormark analyst R. Gray now forecasts that the basic materials company will earn $0.48 per share for the quarter, up from their prior forecast of $0.45. The consensus estimate for Barrick Gold’s current full-year earnings is $2.24 per share. Cormark also issued estimates for Barrick Gold’s Q4 2024 earnings at $0.49 EPS, FY2024 earnings at $1.65 EPS and FY2025 earnings at $2.27 EPS.

A number of other brokerages have also recently weighed in on ABX. TD Securities restated a “buy” rating and issued a C$34.00 price target on shares of Barrick Gold in a research report on Wednesday, October 16th. Canaccord Genuity Group lifted their target price on shares of Barrick Gold from C$31.00 to C$33.00 in a research report on Tuesday, July 23rd. Eight Capital increased their price target on shares of Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th. Stifel Nicolaus lifted their price objective on Barrick Gold from C$28.50 to C$33.50 in a research report on Monday. Finally, Argus upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$30.77.

Barrick Gold Stock Performance

TSE ABX opened at C$28.89 on Monday. The business has a 50 day moving average price of C$26.97 and a 200 day moving average price of C$24.77. The company has a market capitalization of C$50.56 billion, a P/E ratio of 24.28, a PEG ratio of 2.34 and a beta of 0.48. Barrick Gold has a 1-year low of C$18.65 and a 1-year high of C$29.50. The company has a debt-to-equity ratio of 14.54, a current ratio of 3.01 and a quick ratio of 2.62.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its earnings results on Monday, August 12th. The basic materials company reported C$0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.36 by C$0.08. The company had revenue of C$4.33 billion during the quarter, compared to analysts’ expectations of C$4.12 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%.

Insider Activity at Barrick Gold

In other Barrick Gold news, Director Christopher Lewis Coleman sold 121,334 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of C$28.10, for a total value of C$3,409,485.40. In other Barrick Gold news, Director Christopher Lewis Coleman sold 121,334 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of C$28.10, for a total transaction of C$3,409,485.40. Also, Senior Officer Riaan Grobler sold 94,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of C$18.99, for a total transaction of C$1,784,693.40. Over the last ninety days, insiders sold 235,334 shares of company stock worth $5,741,477. 0.60% of the stock is currently owned by insiders.

Barrick Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.138 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 1.91%. This is an increase from Barrick Gold’s previous quarterly dividend of $0.14. Barrick Gold’s payout ratio is currently 45.38%.

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.