Cormark Comments on Barrick Gold Co.’s Q1 2024 Earnings (TSE:ABX)

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Investment analysts at Cormark reduced their Q1 2024 earnings per share (EPS) estimates for Barrick Gold in a research note issued on Wednesday, April 17th. Cormark analyst R. Gray now anticipates that the basic materials company will post earnings of $0.21 per share for the quarter, down from their prior forecast 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.

A number of other research firms also recently commented on ABX. Berenberg Bank upped their price objective on Barrick Gold from C$29.00 to C$31.00 in a report on Monday, April 8th. Raymond James dropped their price objective on Barrick Gold from C$28.00 to C$24.00 in a report on Friday, February 16th. Veritas Investment Research upped their price objective on Barrick Gold from C$20.70 to C$25.00 in a report on Friday, April 12th. Stifel Nicolaus dropped their price objective on Barrick Gold from C$30.00 to C$25.00 and set a “buy” rating for the company in a report on Friday, January 26th. Finally, Sanford C. Bernstein decreased their target price on Barrick Gold from C$30.00 to C$29.00 and set an “outperform” rating for the company in a research note on Thursday, January 25th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$28.10.

Barrick Gold Trading Up 1.1 %

ABX stock opened at C$23.02 on Thursday. The business has a fifty day moving average of C$21.44 and a 200-day moving average of C$21.95. The company has a market cap of C$40.52 billion, a P/E ratio of 23.25, a PEG ratio of 1.94 and a beta of 0.46. 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 has a twelve month low of C$18.65 and a twelve month high of C$28.19.

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

Barrick Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.74%. Barrick Gold’s dividend payout ratio is currently 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.