Barrick Mining Corporation (NYSE:B) Announces $0.17 Quarterly Dividend

Key Points

• Barrick Mining declared a quarterly dividend of $0.175 per share, payable September 15 to shareholders of record on August 31. The payment implies a $0.70 annualized dividend and a 1.7% yield.
• The dividend appears well covered, with a 31.1% payout ratio and analysts expecting earnings of $4.14 per share next year, implying a projected payout ratio of 16.9%.
• Barrick reported quarterly EPS of $0.82, slightly above estimates, while revenue increased 43.8% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $52.46.

Barrick Mining Corporation (NYSE:B - Get Free Report) TSE: ABX announced a quarterly dividend on Monday, August 10th. Shareholders of record on Monday, August 31st will be paid a dividend of 0.175 per share by the gold and copper producer on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, August 31st.

Barrick Mining has decreased its dividend by an average of 0.0%per year over the last three years. Barrick Mining has a payout ratio of 31.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Barrick Mining to earn $4.14 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 16.9%.

Barrick Mining Price Performance

Shares of B traded down $2.77 during midday trading on Monday, hitting $40.91. 28,908,196 shares of the company traded hands, compared to its average volume of 13,242,347. The firm has a 50 day moving average of $38.37 and a 200-day moving average of $42.04. Barrick Mining has a 52 week low of $22.13 and a 52 week high of $54.69. The stock has a market cap of $67.33 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 0.93 and a beta of 0.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.During the same period in the previous year, the business earned $0.47 EPS. The firm's revenue was up 43.8% on a year-over-year basis. On average, analysts forecast that Barrick Mining will post 3.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on B. Royal Bank Of Canada cut their price target on Barrick Mining from $51.00 to $49.00 and set an "outperform" rating for the company in a report on Thursday, July 9th. Bank of America decreased their price objective on Barrick Mining from $58.00 to $56.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Barclays lowered their target price on Barrick Mining from $41.00 to $39.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 15th. UBS Group cut their target price on shares of Barrick Mining from $54.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Barrick Mining from $58.00 to $50.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $52.46.

Barrick Mining Company Profile

Barrick Gold Corporation, commonly known as Barrick, is a Toronto‑headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large‑scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.

The company's activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.

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