Raymond James Has Weak Forecast for Barrick Gold Q4 Earnings

Barrick Gold Co. (TSE:ABX - Free Report) NYSE: ABX - Research analysts at Raymond James lowered their Q4 2024 EPS estimates for Barrick Gold in a report released on Sunday, November 10th. Raymond James analyst B. Macarthur now expects that the basic materials company will earn $0.62 per share for the quarter, down from their prior forecast of $0.63. The consensus estimate for Barrick Gold's current full-year earnings is $2.24 per share. Raymond James also issued estimates for Barrick Gold's Q1 2025 earnings at $0.57 EPS, Q2 2025 earnings at $0.60 EPS, Q3 2025 earnings at $0.61 EPS, Q4 2025 earnings at $0.63 EPS and FY2025 earnings at $2.39 EPS.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX last posted its quarterly earnings results on Monday, August 12th. The basic materials company reported C$0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C$0.36 by C$0.08. Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%. The company had revenue of C$4.33 billion during the quarter, compared to analyst estimates of C$4.12 billion.

A number of other brokerages also recently issued reports on ABX. Sanford C. Bernstein lowered their price target on Barrick Gold from C$37.00 to C$36.00 in a report on Tuesday, November 5th. UBS Group lowered Barrick Gold from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Canaccord Genuity Group raised their price target on Barrick Gold from C$31.00 to C$33.00 in a research note on Tuesday, July 23rd. Stifel Nicolaus raised their price objective on Barrick Gold from C$28.50 to C$33.50 in a report on Monday, October 21st. Finally, Argus upgraded Barrick Gold from a "hold" rating to a "strong-buy" rating in a 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 issued a strong buy rating to the stock. According to data from MarketBeat, Barrick Gold presently has a consensus rating of "Moderate Buy" and a consensus price target of C$31.14.

Barrick Gold Price Performance

ABX traded down C$0.20 on Wednesday, hitting C$23.53. 4,088,119 shares of the company's stock were exchanged, compared to its average volume of 3,566,465. The stock has a market cap of C$41.18 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 2.34 and a beta of 0.48. Barrick Gold has a fifty-two week low of C$18.65 and a fifty-two week high of C$29.50. The firm has a 50-day moving average price of C$27.13 and a 200-day moving average price of C$25.08. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 14.54.

Barrick Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.135 per share. The ex-dividend date is Friday, November 29th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.29%. Barrick Gold's dividend payout ratio (DPR) is presently 45.38%.

Insider Activity at Barrick Gold

In other news, Senior Officer Joel James Holliday sold 20,000 shares of the business's stock in a transaction on Friday, September 20th. The shares were sold at an average price of C$27.36, for a total transaction of C$547,298.10. In related news, Senior Officer Joel James Holliday sold 20,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of C$27.36, for a total value of C$547,298.10. Also, Director Christopher Lewis Coleman sold 121,334 shares of Barrick Gold stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of C$28.10, for a total transaction of C$3,409,485.40. 0.60% of the stock is owned by insiders.

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.