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

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) announced a quarterly dividend on Wednesday, February 12th,RTT News reports. Stockholders of record on Friday, February 28th will be paid a dividend of 0.10 per share by the gold and copper producer on Monday, March 17th. This represents a $0.40 annualized dividend and a dividend yield of 2.20%.

Barrick Gold has raised its dividend by an average of 3.6% annually over the last three years. Barrick Gold has a dividend payout ratio of 23.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Barrick Gold to earn $1.53 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 26.1%.

Barrick Gold Price Performance

Shares of NYSE GOLD opened at $18.18 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. The company has a market cap of $31.40 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 0.39 and a beta of 0.55. The stock’s 50-day moving average is $16.18 and its two-hundred day moving average is $18.17. Barrick Gold has a 1-year low of $13.76 and a 1-year high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. Barrick Gold had a net margin of 13.19% and a return on equity of 5.82%. Analysts forecast that Barrick Gold will post 1.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GOLD. TD Securities cut their price objective on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Bank of America cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price target for the company from $21.00 to $18.00 in a research report on Monday, January 27th. Raymond James dropped their price objective on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. CIBC downgraded Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Finally, Berenberg Bank lifted their price target on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.83.

Barrick Gold announced that its board has authorized a stock repurchase program on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the gold and copper producer to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are 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.