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

Barrick Gold Corp (NYSE:GOLD - Get Free Report) TSE: ABX announced a quarterly dividend on Wednesday, May 7th, RTT News reports. Shareholders of record on Friday, May 30th will be paid 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 yield of 2.12%. The ex-dividend date is Friday, May 30th.

Barrick Gold has raised its dividend payment by an average of 3.6% annually over the last three years. Barrick Gold has a payout ratio of 18.5% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Performance

Shares of GOLD stock traded down $0.58 during trading hours on Friday, hitting $18.83. 21,204,009 shares of the company were exchanged, compared to its average volume of 21,676,024. Barrick Gold has a 52-week low of $15.11 and a 52-week high of $21.35. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. The firm has a fifty day simple moving average of $19.09 and a 200 day simple moving average of $17.81. The stock has a market capitalization of $32.37 billion, a price-to-earnings ratio of 15.30, a P/E/G ratio of 0.44 and a beta of 0.25.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last issued its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.15 billion. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. The business's revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share. Research analysts predict that Barrick Gold will post 1.47 earnings per share for the current fiscal year.

Barrick Gold declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the gold and copper producer to buy up to 3.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages recently commented on GOLD. StockNews.com upgraded shares of Barrick Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 5th. Stifel Canada upgraded Barrick Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. Royal Bank of Canada lifted their price target on Barrick Gold from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Scotiabank increased 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. Finally, UBS Group lifted their target price on Barrick Gold from $22.00 to $25.00 and gave the company a "buy" rating in a report on Friday, April 11th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $24.05.

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.