Stifel Canada Estimates Barrick Gold’s Q3 Earnings (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Stifel Canada issued their Q3 2024 earnings estimates for shares of Barrick Gold in a note issued to investors on Monday, October 21st. Stifel Canada analyst I. Rico forecasts that the basic materials company will earn $0.44 per share for the quarter. The consensus estimate for Barrick Gold’s current full-year earnings is $2.24 per share. Stifel Canada also issued estimates for Barrick Gold’s FY2024 earnings at $1.92 EPS.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its quarterly earnings data 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 company had revenue of C$4.33 billion for 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%.

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

Barrick Gold Price Performance

ABX stock opened at C$28.15 on Wednesday. The stock has a market capitalization of C$49.26 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. The company’s 50-day moving average is C$27.19 and its 200-day moving average is C$24.87. 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 has a 1 year low of C$18.65 and a 1 year high of C$29.50.

Insider Transactions at Barrick Gold

In related news, Director Andrew James Quinn purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of C$26.00 per share, for a total transaction of C$129,999.00. In related news, Director Andrew James Quinn purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of C$26.00 per share, for a total transaction of C$129,999.00. Also, Director Christopher Lewis Coleman sold 121,334 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of C$28.10, for a total transaction of C$3,409,485.40. Insiders sold a total of 235,334 shares of company stock worth $5,741,477 in the last quarter. Insiders own 0.60% of the company’s stock.

Barrick Gold Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.55 annualized dividend and a dividend yield of 1.96%. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.14. Barrick Gold’s dividend payout ratio (DPR) is presently 45.38%.

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.