Barrick Gold Co. (TSE:ABX) Raises Dividend to $0.14 Per Share

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders of record on Friday, May 31st will be paid a dividend of 0.135 per share by the basic materials company on Monday, June 17th. This represents a $0.54 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Friday, May 31st. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.10.

Barrick Gold Trading Down 0.9 %

Shares of ABX stock traded down C$0.21 during trading hours on Thursday, hitting C$22.31. 482,898 shares of the company were exchanged, compared to its average volume of 3,454,933. Barrick Gold has a fifty-two week low of C$18.65 and a fifty-two week high of C$28.19. The company has a 50 day simple moving average of C$22.12 and a two-hundred day simple moving average of C$22.16. The company has a debt-to-equity ratio of 16.32, a quick ratio of 2.62 and a current ratio of 3.16. The firm has a market cap of C$39.27 billion, a P/E ratio of 22.75, a P/E/G ratio of 1.94 and a beta of 0.46.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its earnings results on Wednesday, February 14th. The basic materials company reported C$0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.28 by C$0.09. Barrick Gold had a return on equity of 6.17% and a net margin of 11.16%. The company had revenue of C$4.16 billion for the quarter, compared to analysts’ expectations of C$4.28 billion. Equities analysts anticipate that Barrick Gold will post 1.196793 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. TD Securities reissued a “buy” rating and issued a C$34.00 price objective on shares of Barrick Gold in a report on Wednesday. National Bankshares reduced their target price on Barrick Gold from C$30.00 to C$28.00 and set a “sector perform” rating for the company in a report on Friday, April 19th. Canaccord Genuity Group lifted their target price on Barrick Gold from C$27.00 to C$30.00 in a report on Tuesday, April 23rd. Raymond James reduced their target price on Barrick Gold from C$28.00 to C$24.00 in a report on Friday, February 16th. Finally, National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$29.73.

About Barrick Gold

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties in Canada and internationally. The company also explores and sells silver and energy materials. It has ownership interests in producing gold mines located in Argentina, Canada, Côte d'Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States.