Brokers Offer Predictions for Barrick Gold FY2024 Earnings

Barrick Gold Co. (TSE:ABX - Free Report) NYSE: ABX - Research analysts at Stifel Canada lowered their FY2024 earnings estimates for shares of Barrick Gold in a report released on Tuesday, February 4th. Stifel Canada analyst I. Rico now forecasts that the basic materials company will post earnings per share of $1.77 for the year, down from their prior estimate of $1.85. The consensus estimate for Barrick Gold's current full-year earnings is $2.24 per share. Stifel Canada also issued estimates for Barrick Gold's FY2025 earnings at $2.42 EPS.

A number of other analysts have also issued reports on ABX. National Bankshares dropped their target price on Barrick Gold from C$26.00 to C$24.00 and set a "sector perform" rating on the stock in a research report on Thursday, January 16th. TD Securities restated a "buy" rating and set a C$34.00 price objective on shares of Barrick Gold in a report on Wednesday, October 16th. Stifel Nicolaus reduced their target price on Barrick Gold from C$33.50 to C$32.00 in a research note on Monday, December 2nd. UBS Group lowered shares of Barrick Gold from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Finally, TD Cowen reiterated a "buy" rating and set a C$36.00 price objective on shares of Barrick Gold in a research note on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of C$30.38.

Barrick Gold Stock Up 2.6 %

Barrick Gold stock traded up C$0.64 during midday trading on Friday, hitting C$24.97. 1,835,131 shares of the stock were exchanged, compared to its average volume of 2,905,834. The company has a debt-to-equity ratio of 14.54, a current ratio of 3.01 and a quick ratio of 2.62. The company has a 50 day moving average price of C$23.21 and a two-hundred day moving average price of C$25.23. The firm has a market cap of C$43.70 billion, a P/E ratio of 20.98, a P/E/G ratio of 2.34 and a beta of 0.48. Barrick Gold has a 1 year low of C$18.65 and a 1 year high of C$29.50.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX last posted its earnings results on Thursday, November 7th. The basic materials company reported C$0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$0.45 by C($0.03). Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%. During the same period last year, the business posted $0.32 earnings per share.

Insiders Place Their Bets

In other Barrick Gold news, Director Dennis Mark Bristow bought 85,296 shares of the company's stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average cost of C$25.03 per share, for a total transaction of C$2,135,291.53. Also, Senior Officer Poupak Bahamin bought 5,778 shares of Barrick Gold stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average price of C$25.03 per share, with a total value of C$144,645.87. 0.60% of the stock is owned by insiders.

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.