Scotiabank Issues Positive Outlook for Barrick Gold Earnings

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Analysts at Scotiabank raised their FY2024 earnings per share (EPS) estimates for Barrick Gold in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now forecasts that the basic materials company will post earnings per share of $1.65 for the year, up from their prior estimate of $1.51. The consensus estimate for Barrick Gold’s current full-year earnings is $2.24 per share. Scotiabank also issued estimates for Barrick Gold’s FY2026 earnings at $2.10 EPS.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada upped their price target on Barrick Gold to C$21.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Stifel Nicolaus cut their price objective on shares of Barrick Gold from C$33.50 to C$32.00 in a report on Monday, December 2nd. UBS Group lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Cibc World Mkts downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Finally, TD Securities reaffirmed a “buy” rating and set a C$34.00 price objective on shares of Barrick Gold in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.17.

Barrick Gold Trading Up 2.1 %

ABX opened at C$22.82 on Thursday. Barrick Gold has a 1-year low of C$18.65 and a 1-year high of C$29.50. The stock has a market capitalization of C$39.94 billion, a PE ratio of 19.18, a PEG ratio of 2.34 and a beta of 0.48. 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 50-day moving average price of C$23.96 and a two-hundred day moving average price of C$25.18.

Barrick Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold’s dividend payout ratio is 45.38%.

Insider Buying and Selling

In other Barrick Gold news, Senior Officer Poupak Bahamin sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of C$24.49, for a total transaction of C$61,215.00. Also, Director Dennis Mark Bristow acquired 85,296 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was acquired at an average cost of C$25.03 per share, for a total transaction of C$2,135,291.53. 0.60% of the stock is currently owned by company insiders.

Barrick Gold Company Profile

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.