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

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) – Equities researchers at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for shares of Barrick Gold in a note issued to investors on Thursday, April 18th. National Bank Financial analyst M. Parkin expects that the basic materials company will earn $0.21 per share for the quarter. National Bank Financial currently has a “Sector Perform Overweight” rating on the stock. The consensus estimate for Barrick Gold’s current full-year earnings is $1.20 per share. National Bank Financial also issued estimates for Barrick Gold’s FY2024 earnings at $1.16 EPS and FY2025 earnings at $1.51 EPS.

Several other analysts have also recently commented on the company. National Bankshares lowered their target price on Barrick Gold from C$30.00 to C$28.00 and set a “sector perform” rating on the stock in a research report on Friday, April 19th. TD Securities restated a “buy” rating and issued a C$29.00 target price on shares of Barrick Gold in a research report on Tuesday, April 16th. Canaccord Genuity Group raised their target price on Barrick Gold from C$27.00 to C$30.00 in a research report on Tuesday. Stifel Nicolaus raised their target price on Barrick Gold from C$25.00 to C$27.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, Berenberg Bank raised their target price on Barrick Gold from C$29.00 to C$31.00 in a research report on Monday, April 8th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Barrick Gold has a consensus rating of “Moderate Buy” and an average price target of C$29.27.

Barrick Gold Stock Up 1.3 %

ABX opened at C$22.80 on Monday. Barrick Gold has a 12 month low of C$18.65 and a 12 month high of C$28.19. The company has a debt-to-equity ratio of 16.32, a current ratio of 3.16 and a quick ratio of 2.62. The stock has a market cap of C$40.13 billion, a P/E ratio of 23.03, a P/E/G ratio of 1.94 and a beta of 0.46. The stock’s 50 day moving average price is C$21.72 and its 200 day moving average price is C$22.07.

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

Barrick Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s dividend payout ratio is presently 54.55%.

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.