Q2 2024 EPS Estimates for Barrick Gold Co. Decreased by Analyst (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Equities research analysts at Raymond James decreased their Q2 2024 EPS estimates for shares of Barrick Gold in a research note issued on Wednesday, May 1st. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings per share of $0.43 for the quarter, down from their prior forecast of $0.44. The consensus estimate for Barrick Gold’s current full-year earnings is $1.45 per share.

Several other equities analysts have also recently commented on ABX. Eight Capital raised their target price on shares of Barrick Gold from C$32.00 to C$36.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Canaccord Genuity Group raised their target price on shares of Barrick Gold from C$27.00 to C$30.00 in a research note on Tuesday, April 23rd. Stifel Nicolaus raised their target price on shares of Barrick Gold from C$25.00 to C$27.00 and gave the company a “buy” rating in a research note on Friday, April 19th. CIBC reissued an “outperform” rating and set a C$31.00 target price on shares of Barrick Gold in a research note on Thursday, February 15th. Finally, National Bankshares lowered their target price on shares of Barrick Gold from C$30.00 to C$28.00 and set a “sector perform” rating on the stock in a research note on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$29.73.

Barrick Gold Stock Up 0.9 %

ABX stock opened at C$22.99 on Monday. The company has a quick ratio of 2.62, a current ratio of 3.32 and a debt-to-equity ratio of 14.67. Barrick Gold has a fifty-two week low of C$18.65 and a fifty-two week high of C$27.00. The firm’s 50-day simple moving average is C$22.37 and its 200 day simple moving average is C$22.16. The stock has a market cap of C$40.46 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its quarterly earnings data on Wednesday, February 14th. The basic materials company reported C$0.37 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.28 by C$0.09. Barrick Gold had a net margin of 12.58% and a return on equity of 6.83%. The business had revenue of C$4.16 billion for the quarter, compared to analysts’ expectations of C$4.28 billion.

Barrick Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.35%. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, May 31st. Barrick Gold’s dividend payout ratio is presently 48.67%.

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.