Brokers Offer Predictions for Barrick Gold Q3 Earnings

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Investment analysts at National Bank Financial issued their Q3 2024 earnings estimates for Barrick Gold in a report released on Tuesday, October 22nd. National Bank Financial analyst M. Parkin expects that the basic materials company will post earnings per share of $0.48 for the quarter. The consensus estimate for Barrick Gold’s current full-year earnings is $2.24 per share.

ABX has been the topic of several other reports. Argus upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Stifel Nicolaus upped their target price on Barrick Gold from C$28.50 to C$33.50 in a research note on Monday. TD Securities restated a “buy” rating and issued a C$34.00 price objective on shares of Barrick Gold in a research note on Wednesday, October 16th. Canaccord Genuity Group upped their price objective on Barrick Gold from C$31.00 to C$33.00 in a research note on Tuesday, July 23rd. Finally, Eight Capital increased their target price on shares of Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$30.77.

Barrick Gold Stock Down 1.7 %

Barrick Gold stock opened at C$28.77 on Thursday. The firm’s fifty day simple moving average is C$27.19 and its 200-day simple moving average is C$24.87. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 14.54. Barrick Gold has a 1-year low of C$18.65 and a 1-year high of C$29.50. The company has a market capitalization of C$50.35 billion, a P/E ratio of 24.18, a P/E/G ratio of 2.34 and a beta of 0.48.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its 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 company had revenue of C$4.33 billion during the quarter, compared to analyst estimates of C$4.12 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%.

Insider Buying and Selling at Barrick Gold

In other 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 news, Director Andrew James Quinn acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of C$26.00 per share, for a total transaction of C$129,999.00. Also, Senior Officer Riaan Grobler sold 94,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of C$18.99, for a total transaction of C$1,784,693.40. In the last 90 days, insiders sold 235,334 shares of company stock worth $5,741,477. Insiders own 0.60% of the company’s stock.

Barrick Gold Increases Dividend

The firm 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. This represents a $0.55 dividend on an annualized basis and a yield of 1.92%. 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 currently 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.