Q3 EPS Estimates for Barrick Gold Decreased by Raymond James

Barrick Gold Co. (TSE:ABX - Free Report) NYSE: ABX - Equities researchers at Raymond James cut their Q3 2024 EPS estimates for shares of Barrick Gold in a research note issued to investors on Wednesday, October 16th. Raymond James analyst B. Macarthur now forecasts that the basic materials company will earn $0.41 per share for the quarter, down from their prior forecast of $0.42. 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 Q4 2024 earnings at $0.63 EPS.

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Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX last issued its earnings results on Monday, August 12th. The basic materials company reported C$0.44 earnings per share for the quarter, topping 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 analyst estimates of C$4.12 billion. Barrick Gold had a return on equity of 7.20% and a net margin of 12.78%.

Several other brokerages have also commented on ABX. Eight Capital raised their price target on shares of Barrick Gold from C$36.00 to C$38.00 in a research note on Thursday, July 11th. Argus upgraded Barrick Gold from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 29th. TD Securities reaffirmed a "buy" rating and set a C$34.00 target price on shares of Barrick Gold in a research note on Wednesday. Finally, Canaccord Genuity Group increased their price target on Barrick Gold from C$31.00 to C$33.00 in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Barrick Gold currently has an average rating of "Buy" and a consensus price target of C$30.18.

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Barrick Gold Stock Performance

Shares of Barrick Gold stock traded up C$0.81 during trading on Friday, hitting C$28.88. 5,584,965 shares of the stock were exchanged, compared to its average volume of 3,551,905. The stock has a market cap of C$50.54 billion, a PE ratio of 24.28, a P/E/G ratio of 2.34 and a beta of 0.48. The stock's fifty day moving average is C$26.81 and its 200 day moving average is C$24.67. Barrick Gold has a 12 month low of C$18.65 and a 12 month high of C$29.18. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01.

Insider Transactions at Barrick Gold

In other Barrick Gold news, Director Andrew James Quinn bought 5,000 shares of the business's stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average cost of C$26.00 per share, with a total value of C$129,999.00. In related news, Director Christopher Lewis Coleman sold 121,334 shares of Barrick Gold stock in a transaction dated 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, Director Andrew James Quinn acquired 5,000 shares of the business's stock in a transaction on Wednesday, August 14th. The shares were bought at an average price of C$26.00 per share, for a total transaction of C$129,999.00. Insiders have sold 235,334 shares of company stock valued at $5,741,477 in the last quarter. Insiders own 0.60% of the company's stock.

Barrick Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $0.138 per share. This is a positive change from Barrick Gold's previous quarterly dividend of $0.14. The ex-dividend date was Friday, August 30th. This represents a $0.55 annualized dividend and a dividend yield of 1.91%. Barrick Gold's dividend payout ratio (DPR) is 45.38%.

About Barrick Gold

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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.

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