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.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on GOLD shares. TheStreet cut Barrick Gold from a "b-" rating to a "c+" rating in a research note on Friday, July 29th. Sanford C. Bernstein cut Barrick Gold from an "outperform" rating to a "market perform" rating in a research note on Monday, April 25th. TD Securities dropped their price target on Barrick Gold from $31.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, May 5th. Stifel Nicolaus dropped their price target on Barrick Gold from C$41.00 to C$35.25 in a research note on Wednesday, July 20th. Finally, BMO Capital Markets raised their price objective on Barrick Gold from $27.00 to $28.00 and gave the stock an "outperform" rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, Barrick Gold currently has a consensus rating of "Moderate Buy" and an average target price of $29.24.
Barrick Gold Stock Down 0.8 %
Shares of Barrick Gold stock opened at $16.40 on Friday. The firm has a market cap of $29.04 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 7.94 and a beta of 0.31. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.95 and a quick ratio of 3.23. Barrick Gold has a 52-week low of $14.80 and a 52-week high of $26.07. The stock has a 50-day simple moving average of $17.63 and a 200-day simple moving average of $20.81.
Barrick Gold (NYSE:GOLD - Get Rating) (TSE:ABX) last announced its quarterly earnings results on Monday, August 8th. The gold and copper producer reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. The business had revenue of $2.86 billion during 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%. The firm's revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 EPS. On average, equities research analysts expect that Barrick Gold will post 1.04 earnings per share for the current fiscal year.
Barrick Gold Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be paid a $0.156 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Tuesday, August 30th. Barrick Gold's payout ratio is 35.40%.