Cormark Comments on Barrick Gold’s Q3 Earnings (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Stock analysts at Cormark boosted their Q3 2024 EPS estimates for shares of Barrick Gold in a research report issued on Thursday, October 17th. Cormark analyst R. Gray now expects that the basic materials company will post earnings of $0.48 per share for the quarter, up from their previous estimate of $0.45. The consensus estimate for Barrick Gold’s current full-year earnings is $2.24 per share. Cormark also issued estimates for Barrick Gold’s Q4 2024 earnings at $0.49 EPS, FY2024 earnings at $1.65 EPS and FY2025 earnings at $2.27 EPS.

A number of other brokerages also recently weighed in on ABX. Stifel Nicolaus boosted their price target on Barrick Gold from C$28.50 to C$33.50 in a research report on Monday. TD Securities reaffirmed a “buy” rating and set a C$34.00 target price on shares of Barrick Gold in a report on Wednesday, October 16th. Canaccord Genuity Group boosted their price target on Barrick Gold from C$31.00 to C$33.00 in a research note on Tuesday, July 23rd. Eight Capital upped their target price on Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th. Finally, Argus upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. One 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 company. According to MarketBeat.com, Barrick Gold presently has a consensus rating of “Buy” and a consensus price target of C$30.77.

Barrick Gold Stock Up 1.3 %

Barrick Gold stock opened at C$29.28 on Monday. 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 company has a fifty day simple moving average of C$27.08 and a 200 day simple moving average of C$24.83. The company has a market cap of C$51.24 billion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. Barrick Gold has a 1-year low of C$18.65 and a 1-year high of C$29.50.

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

Insiders Place Their Bets

In other Barrick Gold news, Director Andrew James Quinn purchased 5,000 shares of the stock in a transaction dated 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. In related news, Director Andrew James Quinn purchased 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of C$26.00 per share, with a total value of C$129,999.00. Also, Senior Officer Riaan Grobler sold 94,000 shares of the business’s stock in a transaction that occurred 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. Over the last 90 days, insiders have 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 firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued 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 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend payout ratio (DPR) is 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.