Barrick Gold (NYSE:GOLD) Releases Quarterly Earnings Results

Barrick Gold (NYSE:GOLD) (TSE:ABX) posted its earnings results on Wednesday. The gold and copper producer reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04, RTT News reports. Barrick Gold had a net margin of 12.58% and a return on equity of 4.89%. The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the prior year, the company posted $0.14 earnings per share. Barrick Gold’s revenue for the quarter was up 3.9% compared to the same quarter last year.

Barrick Gold Trading Down 0.5 %

NYSE GOLD traded down $0.09 on Friday, reaching $16.46. The stock had a trading volume of 16,806,390 shares, compared to its average volume of 29,962,524. Barrick Gold has a 12-month low of $13.76 and a 12-month high of $20.75. The stock has a fifty day moving average price of $16.31 and a two-hundred day moving average price of $16.35. The firm has a market capitalization of $28.90 billion, a price-to-earnings ratio of 20.07, a P/E/G ratio of 1.45 and a beta of 0.59. The company has a quick ratio of 2.40, a current ratio of 3.16 and a debt-to-equity ratio of 0.15.

Barrick Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.43%. 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’s dividend payout ratio (DPR) is 48.78%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. StockNews.com raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. CIBC lowered their target price on shares of Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $18.00 price target on shares of Barrick Gold in a research report on Monday, March 4th. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. Finally, BMO Capital Markets cut their target price on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. One equities research 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’s stock. According to data from MarketBeat, Barrick Gold currently has an average rating of “Moderate Buy” and an average 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.