Barrick Gold Co. (TSE:ABX) to Issue Dividend Increase – $0.14 Per Share

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Investors of record on Friday, May 31st will be paid a dividend of 0.135 per share by the basic materials company on Monday, June 17th. This represents a $0.54 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Friday, May 31st. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.10.

Barrick Gold Stock Down 0.9 %

TSE:ABX traded down C$0.21 during mid-day trading on Thursday, hitting C$22.31. 482,898 shares of the company’s stock traded hands, compared to its average volume of 3,454,933. The company has a market capitalization of C$39.27 billion, a P/E ratio of 22.75, a P/E/G ratio of 1.94 and a beta of 0.46. The company has a fifty day moving average of C$22.12 and a 200 day moving average of C$22.16. The company has a debt-to-equity ratio of 16.32, a quick ratio of 2.62 and a current ratio of 3.16. Barrick Gold has a twelve month low of C$18.65 and a twelve month high of C$28.19.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its earnings results on Wednesday, February 14th. The basic materials company reported C$0.37 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of C$4.16 billion during the quarter, compared to analysts’ expectations of C$4.28 billion. On average, analysts forecast that Barrick Gold will post 1.196793 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. TD Securities reissued a “buy” rating and set a C$34.00 target price on shares of Barrick Gold in a report on Wednesday. Raymond James cut their price target on Barrick Gold from C$28.00 to C$24.00 in a report on Friday, February 16th. Berenberg Bank increased their price target on Barrick Gold from C$29.00 to C$31.00 in a report on Monday, April 8th. Canaccord Genuity Group increased their price target on Barrick Gold from C$27.00 to C$30.00 in a report on Tuesday, April 23rd. Finally, National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$29.73.

Barrick Gold Company Profile

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.