Raymond James Boosts Earnings Estimates for Barrick Gold

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Raymond James boosted their FY2024 EPS estimates for shares of Barrick Gold in a research note issued to investors on Sunday, November 10th. Raymond James analyst B. Macarthur now forecasts that the basic materials company will earn $1.78 per share for the year, up from their previous estimate of $1.73. 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 earnings results on Monday, August 12th. The basic materials company reported C$0.44 EPS 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 firm had revenue of C$4.33 billion for the quarter, compared to the consensus estimate of C$4.12 billion.

Several other research firms have also recently commented on ABX. Argus upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. TD Securities reaffirmed a “buy” rating and issued a C$34.00 target price on shares of Barrick Gold in a report on Wednesday, October 16th. UBS Group cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Stifel Nicolaus lifted their price objective on Barrick Gold from C$28.50 to C$33.50 in a research report on Monday, October 21st. Finally, Canaccord Genuity Group increased their price target on Barrick Gold from C$31.00 to C$33.00 in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$31.14.

Barrick Gold Stock Down 2.0 %

Shares of Barrick Gold stock opened at C$23.73 on Tuesday. The stock has a market capitalization of C$41.53 billion, a P/E ratio of 20.35, a PEG ratio of 2.34 and a beta of 0.48. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 14.54. Barrick Gold has a 12-month low of C$18.65 and a 12-month high of C$29.50. The stock has a 50 day moving average price of C$27.21 and a two-hundred day moving average price of C$25.09.

Barrick Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is presently 45.38%.

Insider Transactions at Barrick Gold

In other Barrick Gold news, Senior Officer Joel James Holliday sold 20,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of C$27.36, for a total transaction of C$547,298.10. In other Barrick Gold news, Senior Officer Joel James Holliday sold 20,000 shares of Barrick Gold stock in a transaction dated Friday, September 20th. The shares were sold at an average price of C$27.36, for a total value of C$547,298.10. Also, Director Christopher Lewis Coleman sold 121,334 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of C$28.10, for a total value of C$3,409,485.40. Insiders own 0.60% of the company’s stock.

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.