Raymond James Weighs in on Barrick Gold FY2024 Earnings

Barrick Gold Co. (TSE:ABX - Free Report) NYSE: ABX - Stock analysts at Raymond James increased their FY2024 earnings per share estimates for shares of Barrick Gold in a research report issued to clients and investors on Sunday, November 10th. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings of $1.78 per share for the year, up from their prior estimate of $1.73. The consensus estimate for Barrick Gold's current full-year earnings is $2.24 per share.

Several other analysts also recently issued reports on ABX. Sanford C. Bernstein cut their price objective on Barrick Gold from C$37.00 to C$36.00 in a report on Tuesday, November 5th. UBS Group downgraded Barrick Gold from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 30th. Stifel Nicolaus lifted their target price on Barrick Gold from C$28.50 to C$33.50 in a research note on Monday, October 21st. Canaccord Genuity Group raised their price target on shares of Barrick Gold from C$31.00 to C$33.00 in a report on Tuesday, July 23rd. Finally, TD Securities reiterated a "buy" rating and issued a C$34.00 target price on shares of Barrick Gold in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of C$31.14.

Barrick Gold Price Performance

TSE:ABX traded down C$0.59 during mid-day trading on Tuesday, reaching C$23.63. 2,691,656 shares of the stock were exchanged, compared to its average volume of 3,549,277. Barrick Gold has a 1-year low of C$18.65 and a 1-year high of C$29.50. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 14.54. The firm has a market capitalization of C$41.35 billion, a PE ratio of 20.35, a PEG ratio of 2.34 and a beta of 0.48. The business has a fifty day moving average price of C$27.21 and a 200 day moving average price of C$25.09.

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

Barrick Gold Cuts Dividend

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

Insider Buying and Selling

In other Barrick Gold news, Director Christopher Lewis Coleman sold 121,334 shares of the business's stock in a transaction on Thursday, September 26th. The shares were sold at an average price of C$28.10, for a total transaction of C$3,409,485.40. In other Barrick Gold news, Director Andrew James Quinn purchased 5,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were purchased at an average price of C$26.00 per share, with a total value of C$129,999.00. Also, Director Christopher Lewis Coleman sold 121,334 shares of the 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 value of C$3,409,485.40. In the last three months, insiders sold 235,334 shares of company stock valued at $5,741,477. Company insiders own 0.60% of the company's stock.

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.