Scotiabank Brokers Boost Earnings Estimates for Barrick Gold

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Equities research analysts at Scotiabank boosted their FY2024 EPS estimates for shares of Barrick Gold in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the basic materials company will post earnings of $1.65 per share for the year, up from their prior estimate of $1.51. The consensus estimate for Barrick Gold’s current full-year earnings is $2.24 per share. Scotiabank also issued estimates for Barrick Gold’s FY2026 earnings at $2.10 EPS.

Several other equities research analysts have also recently weighed in on ABX. Stifel Nicolaus decreased their price target on Barrick Gold from C$33.50 to C$32.00 in a research report on Monday, December 2nd. Royal Bank of Canada upped their target price on shares of Barrick Gold to C$21.00 and gave the stock a “buy” rating in a report on Friday, December 20th. UBS Group cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Finally, TD Securities reiterated a “buy” rating and issued a C$34.00 price objective on shares of Barrick Gold in a research report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$30.17.

Barrick Gold Price Performance

Barrick Gold stock opened at C$22.70 on Thursday. 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 one year low of C$18.65 and a one year high of C$29.50. The firm has a market capitalization of C$39.73 billion, a P/E ratio of 19.08, a PEG ratio of 2.34 and a beta of 0.48. The business has a fifty day moving average price of C$23.81 and a 200-day moving average price of C$25.18.

Insider Transactions at Barrick Gold

In other Barrick Gold news, Senior Officer Poupak Bahamin purchased 5,778 shares of the stock in a transaction on Thursday, November 21st. The stock was acquired at an average cost of C$25.03 per share, with a total value of C$144,645.87. Also, Director Dennis Mark Bristow purchased 85,296 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were acquired at an average price of C$25.03 per share, with a total value of C$2,135,291.53. Company insiders own 0.60% of the company’s stock.

Barrick Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Friday, November 29th. Barrick Gold’s payout ratio is currently 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.