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. Nevada Gold Mines is the world’s largest gold mining complex. Barrick owns and operates six Tier One gold mines: Cortez, Carlin and Turquoise Ridge in Nevada, Loulo-Gounkoto in Mali, Kibali in the Democratic Republic of Congo and Pueblo Viejo in the Dominican Republic.
It has gold and copper mines and projects in 13 countries in North and South America, Africa, Papua New Guinea and Saudi Arabia. Barrick’s diversified portfolio spans the world’s most prolific gold districts and is focused on high-margin, long life assets.
Wall Street Analyst Weigh In
GOLD has been the subject of a number of recent research reports. Barclays reduced their target price on shares of Barrick Gold from $28.00 to $25.00 and set an "overweight" rating for the company in a report on Tuesday, July 19th. BMO Capital Markets boosted their target price on shares of Barrick Gold from $27.00 to $28.00 and gave the stock an "outperform" rating in a report on Tuesday, August 9th. Stifel Nicolaus cut their price objective on shares of Barrick Gold from C$41.00 to C$35.25 in a report on Wednesday, July 20th. TheStreet downgraded shares of Barrick Gold from a "b-" rating to a "c+" rating in a report on Friday, July 29th. Finally, Raymond James set a $31.00 price objective on shares of Barrick Gold and gave the company an "outperform" rating in a report on Thursday, May 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $29.24.
Barrick Gold Stock Performance
NYSE:GOLD traded up $0.08 during trading hours on Tuesday, reaching $16.75. The stock had a trading volume of 955,183 shares, compared to its average volume of 23,217,850. The stock has a fifty day moving average of $17.39 and a 200 day moving average of $20.78. The stock has a market cap of $29.65 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 8.04 and a beta of 0.31. Barrick Gold has a 52-week low of $14.80 and a 52-week high of $26.07. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.19 and a current ratio of 3.95.
Barrick Gold (NYSE:GOLD - Get Rating) (TSE:ABX) last issued its earnings results on Monday, August 8th. The gold and copper producer reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.85 billion. Barrick Gold had a return on equity of 5.95% and a net margin of 16.87%. Barrick Gold's revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 earnings per share. Sell-side analysts predict that Barrick Gold will post 1.04 earnings per share for the current year.
Barrick Gold Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be given a $0.156 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.62 annualized dividend and a yield of 3.73%. Barrick Gold's dividend payout ratio is presently 35.40%.