Brokers Set Expectations for Barrick Gold FY2024 Earnings

Barrick Gold Co. (TSE:ABX - Free Report) NYSE: ABX - Equities researchers at National Bank Financial cut their FY2024 earnings per share (EPS) estimates for shares of Barrick Gold in a report issued on Wednesday, January 15th. National Bank Financial analyst M. Parkin now expects that the basic materials company will earn $1.92 per share for the year, down from their prior forecast of $2.01. The consensus estimate for Barrick Gold's current full-year earnings is $2.24 per share. National Bank Financial also issued estimates for Barrick Gold's FY2025 earnings at $2.59 EPS and FY2026 earnings at $2.74 EPS.

Several other research firms have also recently issued reports on ABX. TD Cowen reissued a "buy" rating and issued a C$36.00 price target on shares of Barrick Gold in a research note on Tuesday, January 14th. Canaccord Genuity Group decreased their target price on Barrick Gold from C$33.50 to C$30.00 in a research note on Wednesday, January 15th. Royal Bank of Canada raised their target price on Barrick Gold to C$21.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Sanford C. Bernstein decreased their target price on Barrick Gold from C$37.00 to C$36.00 in a research note on Tuesday, November 5th. Finally, UBS Group cut Barrick Gold from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$30.38.

Barrick Gold Stock Performance

Shares of TSE:ABX traded down C$0.31 on Monday, hitting C$22.90. The company's stock had a trading volume of 2,463,789 shares, compared to its average volume of 2,951,777. 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$40.08 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. The stock's 50-day moving average is C$23.46 and its two-hundred day moving average is C$25.21. 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 Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.135 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.54 annualized dividend and a yield of 2.36%. Barrick Gold's dividend payout ratio (DPR) is currently 45.38%.

Insider Buying and Selling

In other Barrick Gold news, Director Dennis Mark Bristow purchased 85,296 shares of the company's stock in a transaction on Thursday, November 21st. The shares were bought at an average cost of C$25.03 per share, with a total value of C$2,135,291.53. Also, Senior Officer Poupak Bahamin sold 2,500 shares of Barrick Gold stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of C$24.49, for a total value of C$61,215.00. Corporate insiders own 0.60% of the company's stock.

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.