Q3 2024 EPS Estimates for Barrick Gold Co. (TSE:ABX) Increased by Analyst

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Equities researchers at Raymond James increased their Q3 2024 earnings per share (EPS) estimates for shares of Barrick Gold in a note issued to investors on Monday, September 23rd. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings of $0.53 per share for the quarter, up from their previous estimate of $0.47. The consensus estimate for Barrick Gold’s current full-year earnings is $2.27 per share. Raymond James also issued estimates for Barrick Gold’s Q1 2025 earnings at $0.63 EPS, Q2 2025 earnings at $0.65 EPS, Q3 2025 earnings at $0.65 EPS, Q4 2025 earnings at $0.68 EPS and FY2025 earnings at $2.61 EPS.

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

Several other research firms have also recently commented on ABX. Canaccord Genuity Group boosted their target price on Barrick Gold from C$31.00 to C$33.00 in a research note on Tuesday, July 23rd. Eight Capital boosted their price objective on Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th. Finally, Argus raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Barrick Gold has a consensus rating of “Buy” and a consensus target price of C$30.18.

Barrick Gold Stock Performance

TSE:ABX opened at C$27.36 on Thursday. The company has a market cap of C$47.88 billion, a price-to-earnings ratio of 23.62, a price-to-earnings-growth ratio of 1.94 and a beta of 0.49. 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 52 week low of C$18.65 and a 52 week high of C$28.67. The company has a fifty day simple moving average of C$26.24 and a two-hundred day simple moving average of C$24.07.

Insider Activity

In related news, Senior Officer Riaan Grobler sold 94,000 shares of Barrick Gold stock in a transaction 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. In related news, Senior Officer Riaan Grobler sold 94,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of C$18.99, for a total value of C$1,784,693.40. Also, Director Andrew James Quinn purchased 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were purchased at an average cost of C$26.00 per share, for a total transaction of C$129,999.00. In the last quarter, insiders sold 235,334 shares of company stock worth $5,741,477. Corporate insiders own 0.61% of the company’s stock.

Barrick Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Friday, August 30th. This is an increase from Barrick Gold’s previous quarterly dividend of $0.14. Barrick Gold’s payout ratio is currently 46.15%.

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.