Barrick Gold (NYSE:GOLD) Issues Earnings Results

Barrick Gold (NYSE:GOLD) (TSE:ABX) released its quarterly earnings results on Wednesday. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46, Zacks reports. Barrick Gold had a net margin of 13.19% and a return on equity of 5.82%.

Barrick Gold Trading Up 5.5 %

Barrick Gold stock traded up $0.93 during mid-day trading on Wednesday, hitting $18.00. The company’s stock had a trading volume of 6,956,696 shares, compared to its average volume of 19,827,604. The stock has a market cap of $31.09 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 0.39 and a beta of 0.55. Barrick Gold has a 12 month low of $13.76 and a 12 month high of $21.35. The business has a 50 day moving average price of $16.18 and a 200-day moving average price of $18.17. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.22%. Barrick Gold’s payout ratio is 43.01%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GOLD shares. CIBC downgraded Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. TD Securities cut their price target on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and reduced their target price for the company from $23.00 to $22.00 in a report on Wednesday, October 30th. Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Finally, Citigroup dropped their price target on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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.