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

Barrick Gold Corp (NYSE:GOLD - Get Free Report) TSE: ABX announced 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 2.12%. The ex-dividend date of this dividend is Friday, May 30th.

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 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 Trading Down 3.0 %

GOLD stock traded down $0.58 during mid-day trading on Friday, reaching $18.83. The company's stock had a trading volume of 21,204,009 shares, compared to its average volume of 21,643,839. Barrick Gold has a 12 month low of $15.11 and a 12 month high of $21.35. The business's 50 day moving average price is $19.07 and its 200 day moving average price is $17.85. 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 company has a market cap of $32.37 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 0.44 and a beta of 0.25.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last announced its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. On average, equities research analysts predict that Barrick Gold will post 1.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GOLD shares. TD Securities reduced their price target on Barrick Gold from $24.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Bank of America downgraded shares of Barrick Gold from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $21.00 to $18.00 in a report on Monday, January 27th. Scotiabank raised their price objective on shares of Barrick Gold from $20.00 to $22.00 and gave the company a "sector perform" rating in a research report on Monday, April 14th. UBS Group raised their target price on shares of Barrick Gold from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Finally, Stifel Canada raised Barrick Gold to a "strong-buy" rating in a research note on Wednesday, March 19th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Barrick Gold presently has a consensus rating of "Moderate Buy" and an average target price of $24.05.

Barrick Gold announced that its Board of Directors has initiated a stock repurchase plan 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 repurchase up to 3.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.

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.