Barrick Gold Corp Announces Quarterly Dividend of $0.10 (NYSE:GOLD)

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) declared a quarterly dividend on Monday, August 12th, Wall Street Journal reports. Shareholders of record on Friday, August 30th will be given a dividend of 0.10 per share by the gold and copper producer on Monday, September 16th. This represents a $0.40 annualized dividend and a yield of 2.09%. The ex-dividend date is Friday, August 30th.

Barrick Gold has increased its dividend by an average of 8.9% per year over the last three years. Barrick Gold has a dividend payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Barrick Gold to earn $1.53 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 26.1%.

Barrick Gold Trading Up 0.7 %

GOLD traded up $0.14 during mid-day trading on Tuesday, reaching $19.13. The stock had a trading volume of 20,306,162 shares, compared to its average volume of 21,829,082. Barrick Gold has a 52 week low of $13.76 and a 52 week high of $19.45. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32. The stock has a market capitalization of $33.53 billion, a P/E ratio of 23.33, a P/E/G ratio of 0.48 and a beta of 0.51. The firm’s fifty day simple moving average is $17.37 and its two-hundred day simple moving average is $16.62.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The company had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the company posted $0.19 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. On average, equities analysts predict that Barrick Gold will post 1.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on GOLD. BMO Capital Markets decreased their price target on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Jefferies Financial Group boosted their price target on shares of Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, CIBC upped their price objective on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.20.

Barrick Gold Company Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.