Research Analysts Set Expectations for Barrick Gold Co.’s Q1 2024 Earnings (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Equities research analysts at Raymond James lowered their Q1 2024 EPS estimates for shares of Barrick Gold in a report released on Tuesday, April 16th. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings per share of $0.23 for the quarter, down from their prior forecast of $0.30. The consensus estimate for Barrick Gold’s current full-year earnings is $1.20 per share. Raymond James also issued estimates for Barrick Gold’s Q2 2024 earnings at $0.29 EPS, Q3 2024 earnings at $0.29 EPS, Q4 2024 earnings at $0.30 EPS and FY2024 earnings at $1.12 EPS.

Other analysts also recently issued reports about the stock. Veritas Investment Research raised their target price on shares of Barrick Gold from C$20.70 to C$25.00 in a report on Friday, April 12th. CIBC reaffirmed an “outperform” rating and set a C$31.00 price target on shares of Barrick Gold in a research note on Thursday, February 15th. TD Securities reaffirmed a “buy” rating and set a C$29.00 price target on shares of Barrick Gold in a research note on Tuesday. Stifel Nicolaus decreased their price target on shares of Barrick Gold from C$30.00 to C$25.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Finally, Berenberg Bank raised their target price on shares of Barrick Gold from C$29.00 to C$31.00 in a research note on Monday, April 8th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$28.40.

Barrick Gold Stock Performance

Shares of ABX stock opened at C$23.38 on Thursday. The company has a debt-to-equity ratio of 16.32, a quick ratio of 2.62 and a current ratio of 3.16. The company has a market capitalization of C$41.15 billion, a P/E ratio of 23.62, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46. The company’s 50 day moving average price is C$21.51 and its two-hundred day moving average price is C$21.96. Barrick Gold has a 52 week low of C$18.65 and a 52 week high of C$28.19.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its earnings results on Wednesday, February 14th. The basic materials company reported C$0.37 EPS for the quarter, topping the consensus estimate of C$0.28 by C$0.09. The firm had revenue of C$4.16 billion for the quarter, compared to the consensus estimate of C$4.28 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 6.17%.

Barrick Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Wednesday, February 28th. Barrick Gold’s dividend payout ratio is currently 54.55%.

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.