Scotiabank Issues Positive Outlook for Barrick Gold Earnings

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Research analysts at Scotiabank lifted their FY2024 earnings estimates for shares of Barrick Gold in a research report issued on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now anticipates that the basic materials company will post earnings of $1.65 per share for the year, up from their previous 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.

Several other analysts have also recently commented on the company. Royal Bank of Canada raised their target price on Barrick Gold to C$21.00 and gave the company a “buy” rating in a research report on Friday, December 20th. TD Securities reiterated a “buy” rating and issued a C$34.00 price target on shares of Barrick Gold in a research report on Wednesday, October 16th. Sanford C. Bernstein lowered their price objective on shares of Barrick Gold from C$37.00 to C$36.00 in a research note on Tuesday, November 5th. Stifel Nicolaus decreased their price target on shares of Barrick Gold from C$33.50 to C$32.00 in a research report on Monday, December 2nd. Finally, Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. 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. Based on data from MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of C$30.17.

Barrick Gold Stock Up 2.1 %

Barrick Gold stock opened at C$22.82 on Thursday. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01. The company has a 50-day simple moving average of C$23.96 and a 200-day simple moving average of C$25.18. The firm has a market capitalization of C$39.94 billion, a P/E ratio of 19.18, a P/E/G ratio of 2.34 and a beta of 0.48. Barrick Gold has a one year low of C$18.65 and a one year high of C$29.50.

Insiders Place Their Bets

In related news, Senior Officer Poupak Bahamin sold 2,500 shares of the firm’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 value of C$61,215.00. Also, Director Dennis Mark Bristow acquired 85,296 shares of Barrick Gold stock in a transaction dated Thursday, November 21st. The stock was purchased at an average price of C$25.03 per share, with a total value of C$2,135,291.53. Insiders own 0.60% of the company’s stock.

Barrick Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is presently 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.