Barrick Gold (NYSE:GOLD) Posts Earnings Results, Beats Estimates By $0.04 EPS

Barrick Gold (NYSE:GOLD) (TSE:ABX) posted its quarterly earnings results on Wednesday. The gold and copper producer reported $0.19 EPS for the quarter, topping the consensus estimate of $0.15 by $0.04, RTT News reports. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company posted $0.14 earnings per share.

Barrick Gold Price Performance

NYSE:GOLD opened at $16.36 on Thursday. Barrick Gold has a 12 month low of $13.76 and a 12 month high of $20.75. The company’s 50-day moving average price is $16.26 and its two-hundred day moving average price is $16.34. The company has a quick ratio of 2.40, a current ratio of 3.16 and a debt-to-equity ratio of 0.15. The firm has a market cap of $28.72 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58.

Barrick Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.074 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Wednesday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is currently 55.56%.

Analyst Ratings Changes

A number of equities analysts recently commented on GOLD shares. TD Securities dropped their price objective on Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Sanford C. Bernstein downgraded Barrick Gold from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. CIBC reduced their target price on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Argus reiterated a “hold” rating on shares of Barrick Gold in a research note on Monday, February 26th. Finally, StockNews.com raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.06.

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.