Stifel Canada Forecasts Barrick Gold’s Q3 Earnings (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Equities researchers at Stifel Canada issued their Q3 2024 earnings per share estimates for Barrick Gold in a note issued to investors on Monday, October 21st. Stifel Canada analyst I. Rico anticipates that the basic materials company will earn $0.44 per share for the quarter. The consensus estimate for Barrick Gold’s current full-year earnings is $2.24 per share. Stifel Canada also issued estimates for Barrick Gold’s FY2024 earnings at $1.92 EPS.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings results on Monday, August 12th. The basic materials company reported C$0.44 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.36 by C$0.08. Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%. The company had revenue of C$4.33 billion for the quarter, compared to the consensus estimate of C$4.12 billion.

Other analysts have also issued research reports about the stock. Canaccord Genuity Group boosted their target price on shares of Barrick Gold from C$31.00 to C$33.00 in a research note on Tuesday, July 23rd. Stifel Nicolaus increased their price target on Barrick Gold from C$28.50 to C$33.50 in a research note on Monday. TD Securities reaffirmed a “buy” rating and set a C$34.00 target price on shares of Barrick Gold in a research note on Wednesday, October 16th. Eight Capital increased their price objective on Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th. Finally, Argus upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$30.77.

Barrick Gold Price Performance

Shares of ABX stock opened at C$29.28 on Wednesday. Barrick Gold has a twelve month low of C$18.65 and a twelve month high of C$29.50. The company has a market capitalization of C$51.24 billion, a PE ratio of 24.61, a price-to-earnings-growth 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 fifty day simple moving average of C$27.08 and a 200-day simple moving average of C$24.83.

Insider Buying and Selling

In other Barrick Gold news, Director Christopher Lewis Coleman sold 121,334 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of C$28.10, for a total transaction of C$3,409,485.40. In related news, Senior Officer Joel James Holliday sold 20,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$27.36, for a total value of C$547,298.10. Also, Director Christopher Lewis Coleman sold 121,334 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of C$28.10, for a total transaction of C$3,409,485.40. In the last three months, insiders sold 235,334 shares of company stock valued at $5,741,477. 0.60% of the stock is owned by corporate insiders.

Barrick Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 1.89%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend payout ratio (DPR) 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.