Analysts Issue Forecasts for Barrick Gold FY2024 Earnings

Barrick Gold Co. (TSE:ABX - Free Report) NYSE: ABX - Analysts at Raymond James boosted their FY2024 earnings estimates for Barrick Gold in a research report issued to clients and investors on Wednesday, October 16th. Raymond James analyst B. Macarthur now expects that the basic materials company will earn $1.73 per share for the year, up from their previous forecast of $1.71. The consensus estimate for Barrick Gold's current full-year earnings is $2.24 per share.

Other equities research analysts also recently issued research reports about the company. Canaccord Genuity Group raised their target price on Barrick Gold from C$31.00 to C$33.00 in a report on Tuesday, July 23rd. Stifel Nicolaus upped their target price on shares of Barrick Gold from C$28.50 to C$33.50 in a report on Monday. Eight Capital increased their price target on Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th. TD Securities reissued a "buy" rating and issued a C$34.00 price objective on shares of Barrick Gold in a report on Wednesday, October 16th. Finally, Argus raised shares of Barrick Gold from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 29th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of C$30.77.

Barrick Gold Stock Up 0.0 %

ABX traded up C$0.01 during trading on Monday, hitting C$28.89. The company had a trading volume of 2,804,460 shares, compared to its average volume of 3,548,313. The company has a market capitalization of C$50.56 billion, a PE ratio of 24.28, a PEG ratio of 2.34 and a beta of 0.48. The firm's 50-day moving average price is C$26.97 and its 200 day moving average price is C$24.77. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 14.54. Barrick Gold has a one year low of C$18.65 and a one year high of C$29.50.

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

Insider Activity at Barrick Gold

In other Barrick Gold news, Senior Officer Riaan Grobler sold 94,000 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of C$18.99, for a total value of C$1,784,693.40. In other Barrick Gold news, Senior Officer Joel James Holliday sold 20,000 shares of the business's stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$27.36, for a total transaction of C$547,298.10. Also, Senior Officer Riaan Grobler sold 94,000 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of C$18.99, for a total value of C$1,784,693.40. In the last three months, insiders have sold 235,334 shares of company stock valued at $5,741,477. 0.60% of the stock is owned by corporate insiders.

Barrick Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $0.138 dividend. This represents a $0.55 annualized dividend and a yield of 1.91%. The ex-dividend date was Friday, August 30th. This is a positive change from Barrick Gold's previous quarterly dividend of $0.14. Barrick Gold's payout ratio is presently 45.38%.

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.