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 7th, RTT News reports. Stockholders of record on Friday, May 30th will be given a dividend of 0.10 per share by the gold and copper producer on Monday, June 16th. This represents a $0.40 annualized dividend and a dividend yield of 2.06%.

Barrick Gold has raised its dividend by an average of 3.6% annually over the last three years. Barrick Gold has a dividend payout ratio of 18.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Barrick Gold to earn $1.55 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 25.8%.

Barrick Gold Trading Up 1.0 %

Barrick Gold stock opened at $19.42 on Thursday. The stock has a 50-day simple moving average of $19.05 and a 200 day simple moving average of $17.86. The stock has a market capitalization of $33.39 billion, a P/E ratio of 15.79, a PEG ratio of 0.44 and a beta of 0.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. Barrick Gold has a 52 week low of $15.11 and a 52 week high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the company posted $0.19 EPS. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. Analysts expect that Barrick Gold will post 1.47 earnings per share for the current year.

Barrick Gold announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the gold and copper producer to reacquire up to 3.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

GOLD has been the subject of a number of research analyst reports. Scotiabank boosted their price objective on Barrick Gold from $20.00 to $22.00 and gave the stock a “sector perform” rating in a report on Monday, April 14th. UBS Group lifted their target price on Barrick Gold from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Royal Bank of Canada lifted their price objective on shares of Barrick Gold from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. TD Securities decreased their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Raymond James lifted their price target on shares of Barrick Gold from $23.00 to $23.50 and gave the company an “outperform” rating in a research report on Monday, March 31st. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.05.

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.