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

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) announced a quarterly dividend on Wednesday, February 12th,RTT News reports. Investors of record on Friday, February 28th will be paid 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 increased its dividend payment by an average of 3.6% per year over the last three years. Barrick Gold has a payout ratio of 23.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

GOLD stock traded up $0.87 during midday trading on Wednesday, hitting $17.94. The company’s stock had a trading volume of 8,774,896 shares, compared to its average volume of 19,827,604. Barrick Gold has a 1 year low of $13.76 and a 1 year high of $21.35. The stock has a market cap of $30.98 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 0.39 and a beta of 0.55. The stock’s 50-day moving average price is $16.18 and its 200 day moving average price is $18.17. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GOLD. Scotiabank downgraded Barrick Gold from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $23.00 to $19.00 in a research report on Thursday, January 30th. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Cibc World Mkts downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Raymond James reduced their target price on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, Citigroup lowered their price target on shares of 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 investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently 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.