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

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Analysts at Cormark reduced their Q1 2024 earnings estimates for Barrick Gold in a research note issued to investors on Wednesday, April 17th. Cormark analyst R. Gray now expects that the basic materials company will earn $0.21 per share for the quarter, down from their prior estimate of $0.23. The consensus estimate for Barrick Gold’s current full-year earnings is $1.20 per share. Cormark also issued estimates for Barrick Gold’s FY2024 earnings at $0.91 EPS.

Other research analysts have also recently issued reports about the stock. Veritas Investment Research increased their price target on shares of Barrick Gold from C$20.70 to C$25.00 in a report on Friday, April 12th. Sanford C. Bernstein upped their target price on shares of Barrick Gold from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a research report on Thursday. CIBC restated an “outperform” rating and set a C$31.00 target price on shares of Barrick Gold in a research report on Thursday, February 15th. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. Finally, Berenberg Bank upped their target price on shares of Barrick Gold from C$29.00 to C$31.00 in a research report on Monday, April 8th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Barrick Gold presently has an average rating of “Moderate Buy” and a consensus target price of C$28.60.

Barrick Gold Trading Up 0.6 %

TSE ABX opened at C$23.53 on Thursday. The stock has a market capitalization of C$41.41 billion, a P/E ratio of 23.77, a P/E/G ratio of 1.94 and a beta of 0.46. Barrick Gold has a 52-week low of C$18.65 and a 52-week high of C$28.19. The firm has a 50-day moving average price of C$21.59 and a 200 day moving average price of C$21.99. The company has a quick ratio of 2.62, a current ratio of 3.16 and a debt-to-equity ratio of 16.32.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings results on Wednesday, February 14th. The basic materials company reported C$0.37 earnings per share (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 during the quarter, compared to analysts’ expectations 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 firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.70%. Barrick Gold’s dividend payout ratio is presently 54.55%.

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.