Q3 2024 Earnings Forecast for Barrick Gold Co. (TSE:ABX) Issued By Raymond James

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Stock analysts at Raymond James decreased their Q3 2024 EPS estimates for Barrick Gold in a research report issued to clients and investors on Wednesday, September 25th. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings of $0.42 per share for the quarter, down from their prior forecast of $0.53. The consensus estimate for Barrick Gold’s current full-year earnings is $2.27 per share. Raymond James also issued estimates for Barrick Gold’s Q4 2024 earnings at $0.62 EPS and FY2024 earnings at $1.71 EPS.

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

ABX has been the topic of a number of other reports. Eight Capital upped their price target on Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th. Argus raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Canaccord Genuity Group upped their target price on Barrick Gold from C$31.00 to C$33.00 in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$30.18.

Barrick Gold Stock Performance

Shares of ABX stock opened at C$27.36 on Monday. The business’s fifty day simple moving average is C$26.29 and its 200-day simple moving average is C$24.16. The company has a market cap of C$47.88 billion, a PE ratio of 23.38, a PEG ratio of 1.94 and a beta of 0.49. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 14.54. Barrick Gold has a 12-month low of C$18.65 and a 12-month high of C$28.67.

Barrick Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a dividend of $0.138 per share. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.14. This represents a $0.55 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold’s dividend payout ratio is presently 46.15%.

Insider Transactions at Barrick Gold

In other news, Director Christopher Lewis Coleman sold 121,334 shares of the stock in a transaction dated 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. In related news, 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 transaction of C$3,409,485.40. Also, Director Andrew James Quinn purchased 5,000 shares of Barrick Gold stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of C$26.00 per share, with a total value of C$129,999.00. Insiders have sold a total of 235,334 shares of company stock valued at $5,741,477 in the last ninety days. 0.61% of the stock is currently owned by corporate 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.