FY2024 Earnings Forecast for Barrick Gold Issued By Cormark

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Equities research analysts at Cormark upped their FY2024 earnings per share (EPS) estimates for Barrick Gold in a note issued to investors on Friday, November 8th. Cormark analyst R. Gray now anticipates that the basic materials company will post earnings per share of $1.67 for the year, up from their previous forecast of $1.65. 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 $0.54 EPS, FY2025 earnings at $2.52 EPS and FY2026 earnings at $2.86 EPS.

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

Other equities analysts have also issued reports about the company. 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. Stifel Nicolaus lifted their target price on Barrick Gold from C$28.50 to C$33.50 in a research report on Monday, October 21st. Sanford C. Bernstein cut their price objective on shares of Barrick Gold from C$37.00 to C$36.00 in a report on Tuesday, November 5th. TD Securities reiterated a “buy” rating and set a C$34.00 price target on shares of Barrick Gold in a report on Wednesday, October 16th. Finally, UBS Group cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$31.14.

Barrick Gold Stock Performance

Shares of ABX opened at C$24.22 on Monday. Barrick Gold has a one year low of C$18.65 and a one year high of C$29.50. The company has a market cap of C$42.39 billion, a PE ratio of 21.53, a P/E/G ratio of 2.34 and a beta of 0.48. The stock has a 50-day moving average of C$27.28 and a 200-day moving average of C$25.09. The company has a debt-to-equity ratio of 14.54, a current ratio of 3.01 and a quick ratio of 2.62.

Insider Activity

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 shares were sold at an average price of C$18.99, for a total value of C$1,784,693.40. In other Barrick Gold news, Senior Officer Riaan Grobler sold 94,000 shares of Barrick Gold stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 stock in a transaction 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. Over the last ninety days, insiders sold 235,334 shares of company stock worth $5,741,477. 0.60% of the stock is owned by company insiders.

Barrick Gold Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.54 annualized dividend and a yield of 2.23%. Barrick Gold’s dividend payout ratio is currently 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.