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

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Friday, May 31st will be given a dividend of 0.10 per share by the gold and copper producer on Monday, June 17th. This represents a $0.40 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Friday, May 31st. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07.

Barrick Gold has raised its dividend by an average of 8.9% per year over the last three years. Barrick Gold has a dividend payout ratio of 30.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Barrick Gold to earn $1.29 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 31.0%.

Barrick Gold Stock Performance

Shares of GOLD stock traded up $0.14 during trading on Thursday, hitting $16.50. The company’s stock had a trading volume of 7,632,918 shares, compared to its average volume of 23,073,982. The company has a market cap of $28.97 billion, a PE ratio of 22.97, a P/E/G ratio of 1.47 and a beta of 0.59. The business has a fifty day moving average of $16.26 and a 200-day moving average of $16.34. The company has a current ratio of 3.16, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15. Barrick Gold has a 52 week low of $13.76 and a 52 week high of $20.75.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the previous year, the firm posted $0.14 EPS. Barrick Gold’s revenue was up 3.9% on a year-over-year basis. As a group, research analysts anticipate that Barrick Gold will post 0.95 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GOLD shares. Royal Bank of Canada restated an “outperform” rating and set a $18.00 price target on shares of Barrick Gold in a research report on Monday, March 4th. Jefferies Financial Group began coverage on shares of Barrick Gold in a research report on Thursday, February 29th. They set a “buy” rating and a $21.00 price target for the company. National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. StockNews.com upgraded Barrick Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. Finally, CIBC cut their target price on shares of Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.06.

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.