Raymond James Boosts Earnings Estimates for Barrick Gold

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Stock analysts at Raymond James lifted their FY2024 EPS estimates for shares of Barrick Gold in a report issued on Wednesday, October 16th. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings of $1.73 per share for the year, up from their prior estimate of $1.71. The consensus estimate for Barrick Gold’s current full-year earnings is $2.24 per share.

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

Several other equities analysts have also issued reports on the company. Argus upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Canaccord Genuity Group raised their target price on shares of Barrick Gold from C$31.00 to C$33.00 in a report on Tuesday, July 23rd. Eight Capital upped their price target on shares of Barrick Gold from C$36.00 to C$38.00 in a report on Thursday, July 11th. Finally, TD Securities reissued a “buy” rating and issued a C$34.00 price target on shares of Barrick Gold in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$30.18.

Barrick Gold Stock Up 2.9 %

ABX opened at C$28.88 on Monday. Barrick Gold has a 12 month low of C$18.65 and a 12 month high of C$29.18. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 14.54. The business’s 50-day moving average price is C$26.89 and its 200-day moving average price is C$24.72. The company has a market cap of C$50.54 billion, a P/E ratio of 24.27, a P/E/G ratio of 2.34 and a beta of 0.48.

Insider Transactions at Barrick Gold

In related news, Director Christopher Lewis Coleman sold 121,334 shares of the business’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. In other Barrick Gold news, Senior Officer Riaan Grobler sold 94,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of C$18.99, for a total transaction of C$1,784,693.40. Also, Director Christopher Lewis Coleman sold 121,334 shares of the business’s stock in a transaction on 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 the last ninety days, insiders sold 235,334 shares of company stock valued at $5,741,477. Company insiders own 0.60% of the company’s stock.

Barrick Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $0.138 dividend. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.14. This represents a $0.55 annualized dividend and a yield of 1.91%. Barrick Gold’s dividend payout ratio is 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.