What is Cormark's Forecast for Barrick Gold FY2024 Earnings?

Barrick Gold Co. (TSE:ABX - Free Report) NYSE: ABX - Equities researchers at Cormark upped their FY2024 earnings per share (EPS) estimates for shares of Barrick Gold in a report released on Friday, November 8th. Cormark analyst R. Gray now expects that the basic materials company will earn $1.67 per share for the year, up from their prior estimate 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 - Get Free Report) NYSE: ABX last released its earnings results on Monday, August 12th. The basic materials company reported C$0.44 EPS for the quarter, beating the consensus estimate of C$0.36 by C$0.08. The firm had revenue of C$4.33 billion for the quarter, compared to analysts' expectations of C$4.12 billion. Barrick Gold had a return on equity of 7.20% and a net margin of 12.78%.

Other equities analysts have also recently issued research reports about the company. Canaccord Genuity Group raised their price objective on Barrick Gold from C$31.00 to C$33.00 in a report on Tuesday, July 23rd. UBS Group cut Barrick Gold from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Stifel Nicolaus boosted their target price on shares of Barrick Gold from C$28.50 to C$33.50 in a report on Monday, October 21st. Sanford C. Bernstein dropped their price target on shares of Barrick Gold from C$37.00 to C$36.00 in a research report on Tuesday, November 5th. Finally, Argus raised shares of Barrick Gold from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 29th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Barrick Gold has an average rating of "Moderate Buy" and an average target price of C$31.14.

Barrick Gold Stock Down 4.8 %

Barrick Gold stock traded down C$1.24 during mid-day trading on Monday, reaching C$24.38. The company's stock had a trading volume of 3,359,135 shares, compared to its average volume of 3,548,789. The business's 50 day simple moving average is C$27.28 and its 200 day simple moving average is C$25.09. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01. Barrick Gold has a 12 month low of C$18.65 and a 12 month high of C$29.50. The company has a market capitalization of C$42.67 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48.

Insiders Place Their Bets

In other news, Senior Officer Riaan Grobler sold 94,000 shares of the stock in a transaction 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. In other news, Director Christopher Lewis Coleman sold 121,334 shares of Barrick Gold stock in a transaction on Thursday, September 26th. The stock was sold at an average price of C$28.10, for a total value of C$3,409,485.40. Also, Senior Officer Riaan Grobler sold 94,000 shares of the company's stock in a transaction on 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. Insiders have sold a total of 235,334 shares of company stock worth $5,741,477 in the last 90 days. Company insiders own 0.60% of the company's stock.

Barrick Gold Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold's dividend payout ratio is currently 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.