Cormark Issues Optimistic Estimate for Barrick Gold Earnings

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Investment analysts at Cormark raised their FY2024 EPS estimates for Barrick Gold in a research note issued to investors on Friday, November 8th. Cormark analyst R. Gray now forecasts that the basic materials company will earn $1.67 per share for the year, up from their prior estimate of $1.65. 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 $0.54 EPS, FY2025 earnings at $2.52 EPS and FY2026 earnings at $2.86 EPS.

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

A number of other brokerages have also recently weighed in on ABX. Argus upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Stifel Nicolaus upped their price target on shares of Barrick Gold from C$28.50 to C$33.50 in a report on Monday, October 21st. Sanford C. Bernstein dropped their price objective on Barrick Gold from C$37.00 to C$36.00 in a research note on Tuesday, November 5th. Canaccord Genuity Group boosted their price objective on Barrick Gold from C$31.00 to C$33.00 in a research report on Tuesday, July 23rd. Finally, UBS Group lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$31.14.

Barrick Gold Stock Down 2.0 %

ABX opened at C$23.73 on Monday. Barrick Gold has a twelve month low of C$18.65 and a twelve month high of C$29.50. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01. The business has a 50 day moving average price of C$27.21 and a 200 day moving average price of C$25.09. The firm has a market cap of C$41.53 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48.

Insider Activity at Barrick Gold

In other Barrick Gold news, Senior Officer Joel James Holliday sold 20,000 shares of Barrick Gold stock in a transaction on Friday, September 20th. The shares were sold at an average price of C$27.36, for a total transaction of C$547,298.10. In other Barrick Gold news, Senior Officer Joel James Holliday sold 20,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of C$27.36, for a total transaction of C$547,298.10. Also, Director Christopher Lewis Coleman sold 121,334 shares of the company’s 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 value of C$3,409,485.40. 0.60% of the stock is currently owned by corporate insiders.

Barrick Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio is presently 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.