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

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) declared a quarterly dividend on Wednesday, February 12th, RTT News reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.10 per share by the gold and copper producer on Monday, March 17th. This represents a $0.40 annualized dividend and a yield of 2.21%. The ex-dividend date is Friday, February 28th.

Barrick Gold has raised its dividend by an average of 3.6% annually over the last three years. Barrick Gold has a dividend payout ratio of 23.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Barrick Gold to earn $1.55 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 25.8%.

Barrick Gold Stock Down 1.0 %

Shares of NYSE:GOLD opened at $18.09 on Wednesday. The firm has a 50 day simple moving average of $16.46 and a 200-day simple moving average of $18.21. Barrick Gold has a twelve month low of $14.27 and a twelve month high of $21.35. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $31.23 billion, a PE ratio of 14.70, a P/E/G ratio of 0.44 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. On average, equities analysts predict that Barrick Gold will post 1.47 EPS for the current fiscal year.

Barrick Gold announced that its board has authorized a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the gold and copper producer to repurchase up to 3.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Bank of America downgraded Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $21.00 to $18.00 in a research note on Monday, January 27th. Cibc World Mkts cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. UBS Group cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. Scotiabank lifted their price objective on shares of Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 18th. Finally, Citigroup decreased their target price on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and an average price target of $23.75.

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.