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

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.10 per share by the gold and copper producer on Monday, December 16th. This represents a $0.40 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Friday, November 29th.

Barrick Gold has increased its dividend payment by an average of 8.9% per year over the last three years. Barrick Gold has a dividend payout ratio of 21.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Barrick Gold to earn $1.90 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 21.1%.

Barrick Gold Trading Down 1.0 %

GOLD traded down $0.18 during trading on Friday, hitting $18.30. 5,804,423 shares of the company’s stock were exchanged, compared to its average volume of 21,136,818. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15. Barrick Gold has a 1 year low of $13.76 and a 1 year high of $21.35. The stock has a 50 day moving average price of $20.02 and a 200 day moving average price of $18.44. The firm has a market cap of $31.99 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 0.45 and a beta of 0.56.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the firm earned $0.19 earnings per share. Barrick Gold’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts expect that Barrick Gold will post 1.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GOLD. Royal Bank of Canada boosted their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank decreased their target price on shares of Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a research note on Friday. Raymond James decreased their target price on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research note on Thursday, September 26th. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Thursday, August 29th. Finally, UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Barrick Gold currently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

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.