Barrick Gold FY2024 EPS Boosted by National Bank Financial

Barrick Gold Co. (TSE:ABX - Free Report) NYSE: ABX - Analysts at National Bank Financial increased their FY2024 earnings per share estimates for Barrick Gold in a note issued to investors on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now anticipates that the basic materials company will post earnings of $2.01 per share for the year, up from their previous estimate of $1.70. 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 $2.72 EPS.

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

ABX has been the subject of a number of other research reports. TD Securities reaffirmed a "buy" rating and set a C$34.00 price target on shares of Barrick Gold in a report on Wednesday, October 16th. Argus upgraded Barrick Gold from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 29th. Stifel Nicolaus boosted their target price on Barrick Gold from C$28.50 to C$33.50 in a research note on Monday. 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. Finally, Canaccord Genuity Group raised their target price on shares of Barrick Gold from C$31.00 to C$33.00 in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Barrick Gold has an average rating of "Buy" and a consensus target price of C$30.77.

Barrick Gold Price Performance

The company has a market capitalization of C$47.71 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. The company has a debt-to-equity ratio of 14.54, a current ratio of 3.01 and a quick ratio of 2.62. Barrick Gold has a 52-week low of C$18.65 and a 52-week high of C$29.50. The business's fifty day moving average price is C$27.28 and its 200-day moving average price is C$24.91.

Barrick Gold Increases Dividend

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

Insider Buying and Selling

In other news, Senior Officer Riaan Grobler sold 94,000 shares of the company's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of C$18.99, for a total value of C$1,784,693.40. In other news, Senior Officer Riaan Grobler sold 94,000 shares of Barrick Gold stock in a transaction dated 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. Also, Director Christopher Lewis Coleman sold 121,334 shares of the company's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of C$28.10, for a total value of C$3,409,485.40. Insiders have sold a total of 235,334 shares of company stock valued at $5,741,477 over the last ninety days. 0.60% of the stock is owned by company 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.