Barrick Gold (NYSE:GOLD) Releases Quarterly Earnings Results, Meets Estimates

Barrick Gold (NYSE:GOLD) (TSE:ABX) issued its quarterly earnings data on Wednesday. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46, Zacks reports. Barrick Gold had a return on equity of 5.82% and a net margin of 13.19%.

Barrick Gold Stock Performance

GOLD traded up $1.20 during trading hours on Wednesday, reaching $18.27. The company’s stock had a trading volume of 20,994,362 shares, compared to its average volume of 20,373,488. Barrick Gold has a 52 week low of $13.76 and a 52 week high of $21.35. The company’s 50-day moving average is $16.18 and its 200-day moving average is $18.17. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. The firm has a market cap of $31.55 billion, a PE ratio of 19.64, a price-to-earnings-growth ratio of 0.39 and a beta of 0.55.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.19%. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

Analysts Set New Price Targets

GOLD has been the subject of a number of recent research reports. CIBC downgraded Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Berenberg Bank upped their price target on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. TD Securities reduced their price target on Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Scotiabank downgraded Barrick Gold from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $23.00 to $19.00 in a research report on Thursday, January 30th. Finally, Cibc World Mkts downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.83.

Barrick Gold Company Profile

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.