Barrick Gold (NYSE:GOLD) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Barrick Gold (NYSE:GOLD) (TSE:ABX) posted its quarterly earnings data on Monday. The gold and copper producer reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05, Briefing.com reports. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The company had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the prior year, the business posted $0.19 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis.

Barrick Gold Trading Down 1.3 %

Shares of Barrick Gold stock traded down $0.25 during mid-day trading on Wednesday, hitting $18.88. The stock had a trading volume of 2,120,859 shares, compared to its average volume of 21,700,049. The firm has a market cap of $33.09 billion, a P/E ratio of 23.33, a price-to-earnings-growth ratio of 0.48 and a beta of 0.51. The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average of $17.43 and a two-hundred day moving average of $16.65. Barrick Gold has a 12-month low of $13.76 and a 12-month high of $19.45.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Friday, August 30th. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. CIBC boosted their target price on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. BMO Capital Markets decreased their target price on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Finally, Jefferies Financial Group boosted their price target on Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.20.

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.