Barrick Gold Corp to Issue 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. Stockholders of record on Friday, February 28th will be given a dividend of 0.10 per share by the gold and copper producer on Monday, March 17th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.23%.

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% meaning its dividend is sufficiently covered by earnings. Research analysts expect Barrick Gold to earn $1.53 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 26.1%.

Barrick Gold Price Performance

Shares of GOLD stock traded up $0.87 during midday trading on Wednesday, reaching $17.94. 8,774,896 shares of the company were exchanged, compared to its average volume of 19,827,604. Barrick Gold has a 12 month low of $13.76 and a 12 month high of $21.35. The company has a market cap of $30.98 billion, a P/E ratio of 19.38, a PEG ratio of 0.39 and a beta of 0.55. The company’s 50 day moving average price is $16.18 and its two-hundred day moving average price is $18.17. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. Barrick Gold had a return on equity of 5.82% and a net margin of 13.19%. On average, sell-side analysts expect that Barrick Gold will post 1.23 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GOLD. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Scotiabank cut shares of Barrick Gold from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $23.00 to $19.00 in a research report on Thursday, January 30th. Berenberg Bank raised their price target on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Citigroup cut their price objective on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Finally, Bank of America cut Barrick Gold from a “buy” rating to a “neutral” rating and cut their price target for the company from $21.00 to $18.00 in a research note on Monday, January 27th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $23.83.

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.