Raymond James Has Negative View of Barrick Gold Q4 Earnings

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Research analysts at Raymond James lowered their Q4 2024 EPS estimates for shares of Barrick Gold in a report released on Sunday, November 10th. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings of $0.62 per share for the quarter, down from their prior forecast of $0.63. The consensus estimate for Barrick Gold’s current full-year earnings is $2.24 per share. Raymond James also issued estimates for Barrick Gold’s Q1 2025 earnings at $0.57 EPS, Q2 2025 earnings at $0.60 EPS, Q3 2025 earnings at $0.61 EPS, Q4 2025 earnings at $0.63 EPS and FY2025 earnings at $2.39 EPS.

Several other equities analysts have also weighed in on the stock. Stifel Nicolaus increased their price target on shares of Barrick Gold from C$28.50 to C$33.50 in a research report on Monday, October 21st. TD Securities reissued a “buy” rating and set a C$34.00 price objective on shares of Barrick Gold in a report on Wednesday, October 16th. Sanford C. Bernstein lowered their target price on Barrick Gold from C$37.00 to C$36.00 in a research note on Tuesday, November 5th. Canaccord Genuity Group lifted their price objective on Barrick Gold from C$31.00 to C$33.00 in a report on Tuesday, July 23rd. Finally, Argus raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Barrick Gold has an average rating of “Moderate Buy” and a consensus target price of C$31.14.

Barrick Gold Stock Down 2.0 %

ABX stock opened at C$23.73 on Wednesday. The stock has a market cap of C$41.53 billion, a P/E ratio of 19.94, a P/E/G 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 stock’s fifty day simple moving average is C$27.21 and its two-hundred day simple moving average is C$25.09. Barrick Gold has a 1-year low of C$18.65 and a 1-year high of C$29.50.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its 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. The firm had revenue of C$4.33 billion for the quarter, compared to the consensus estimate of C$4.12 billion. Barrick Gold had a return on equity of 7.20% and a net margin of 12.78%.

Barrick Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.135 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.28%. Barrick Gold’s dividend payout ratio (DPR) is presently 45.38%.

Insiders Place Their Bets

In related news, Senior Officer Joel James Holliday sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of C$27.36, for a total value of C$547,298.10. 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 value of C$3,409,485.40. Also, Senior Officer Joel James Holliday sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of C$27.36, for a total transaction of C$547,298.10. Corporate insiders own 0.60% of the company’s stock.

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.