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

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Friday, November 29th will be given a dividend of 0.10 per share by the gold and copper producer on Monday, December 16th. This represents a $0.40 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Friday, November 29th.

Barrick Gold has increased its dividend payment by an average of 8.9% per year over the last three years. Barrick Gold has a dividend payout ratio of 21.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Barrick Gold to earn $1.90 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 21.1%.

Barrick Gold Trading Down 0.7 %

NYSE GOLD traded down $0.13 during mid-day trading on Friday, reaching $18.35. 3,099,229 shares of the stock were exchanged, compared to its average volume of 21,124,354. Barrick Gold has a 1-year low of $13.76 and a 1-year high of $21.35. The business’s fifty day simple moving average is $20.02 and its 200 day simple moving average is $18.44. The stock has a market capitalization of $32.08 billion, a PE ratio of 21.34, a PEG ratio of 0.45 and a beta of 0.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. Barrick Gold’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 earnings per share. On average, research analysts anticipate that Barrick Gold will post 1.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GOLD shares. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Thursday, August 29th. UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Scotiabank decreased their target price on shares of Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a research note on Friday. Finally, Royal Bank of Canada lifted their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Barrick Gold presently has an average rating of “Moderate Buy” and an average target price of $23.40.

About Barrick Gold

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.