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

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Friday, May 31st will be given a dividend of 0.10 per share by the gold and copper producer on Monday, June 17th. This represents a $0.40 dividend on an annualized basis 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 $0.07.

Barrick Gold has raised its dividend payment by an average of 8.9% annually over the last three years. Barrick Gold has a dividend payout ratio of 30.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Barrick Gold to earn $1.29 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 31.0%.

Barrick Gold Stock Performance

Shares of NYSE GOLD traded up $0.14 during midday trading on Thursday, reaching $16.50. 7,632,918 shares of the company were exchanged, compared to its average volume of 23,073,982. The stock has a market cap of $28.97 billion, a P/E ratio of 22.97, a PEG ratio of 1.47 and a beta of 0.59. Barrick Gold has a 1 year low of $13.76 and a 1 year high of $20.75. The stock has a fifty day simple moving average of $16.26 and a 200 day simple moving average of $16.34. The company has a current ratio of 3.16, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period last year, the business posted $0.14 EPS. The company’s revenue was up 3.9% on a year-over-year basis. On average, research analysts forecast that Barrick Gold will post 0.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on GOLD shares. Raymond James lowered their target price on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Sanford C. Bernstein lowered Barrick Gold from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th. Royal Bank of Canada restated an “outperform” rating and issued a $18.00 price target on shares of Barrick Gold in a research report on Monday, March 4th. Finally, Scotiabank decreased their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.