Q4 EPS Estimates for Barrick Gold Reduced by Raymond James

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Research analysts at Raymond James dropped their Q4 2024 earnings estimates for Barrick Gold in a report issued on Sunday, November 10th. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings per share of $0.62 for the quarter, down from their prior forecast of $0.63. The consensus estimate for Barrick Gold’s current full-year earnings is $2.24 per share. Raymond James also issued estimates for Barrick Gold’s Q1 2025 earnings at $0.57 EPS, Q2 2025 earnings at $0.60 EPS, Q3 2025 earnings at $0.61 EPS, Q4 2025 earnings at $0.63 EPS and FY2025 earnings at $2.39 EPS.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings results on Monday, August 12th. The basic materials company reported C$0.44 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of C$4.33 billion for the quarter, compared to analysts’ expectations of C$4.12 billion.

Several other equities analysts also recently issued reports on ABX. UBS Group downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. TD Securities reissued a “buy” rating and issued a C$34.00 target price on shares of Barrick Gold in a report on Wednesday, October 16th. Stifel Nicolaus raised their price target on Barrick Gold from C$28.50 to C$33.50 in a report on Monday, October 21st. Argus raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Canaccord Genuity Group increased their target price on Barrick Gold from C$31.00 to C$33.00 in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Barrick Gold currently has a consensus rating of “Moderate Buy” and an average target price of C$31.14.

Barrick Gold Stock Up 0.8 %

Shares of TSE ABX opened at C$23.72 on Wednesday. The business has a fifty day moving average of C$27.05 and a two-hundred day moving average of C$25.08. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01. Barrick Gold has a 52-week low of C$18.65 and a 52-week high of C$29.50. The stock has a market cap of C$41.51 billion, a PE ratio of 19.93, a PEG ratio of 2.34 and a beta of 0.48.

Barrick Gold Cuts Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio is 45.38%.

Insider Buying and Selling

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 stock was 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 dated 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 insiders.

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.