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.
Analysts Set New Price Targets
Several equities analysts have commented on the company. TD Securities cut their price target on Barrick Gold from $31.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, May 5th. Fundamental Research reaffirmed a "buy" rating and issued a $23.42 price target on shares of Barrick Gold in a report on Tuesday. TheStreet cut Barrick Gold from a "b-" rating to a "c+" rating in a report on Friday, July 29th. BMO Capital Markets upped their price target on Barrick Gold from $27.00 to $28.00 and gave the company an "outperform" rating in a report on Tuesday, August 9th. Finally, National Bank Financial cut their price target on Barrick Gold from C$34.00 to C$26.00 in a report on Thursday, July 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Barrick Gold presently has a consensus rating of "Moderate Buy" and an average target price of $28.97.
Barrick Gold Stock Down 0.2 %
NYSE:GOLD opened at $16.41 on Friday. The firm has a market cap of $29.05 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 8.04 and a beta of 0.31. Barrick Gold has a one year low of $14.80 and a one year high of $26.07. The stock's 50 day simple moving average is $17.15 and its 200 day simple moving average is $20.71. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.95 and a quick ratio of 3.19.
Barrick Gold (NYSE:GOLD - Get Rating) (TSE:ABX) last released its quarterly earnings results on Monday, August 8th. The gold and copper producer reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. Barrick Gold had a return on equity of 5.95% and a net margin of 16.87%. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the prior year, the company earned $0.29 EPS. Barrick Gold's revenue for the quarter was down 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that Barrick Gold will post 1.05 earnings per share for the current fiscal year.
Barrick Gold Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be issued a dividend of $0.156 per share. This represents a $0.62 annualized dividend and a yield of 3.80%. The ex-dividend date is Tuesday, August 30th. Barrick Gold's dividend payout ratio is 35.40%.