Barrick Gold Corp (B) to Issue Quarterly Dividend of $0.10 on June 16th

Barrick Gold Corp (NYSE:B) (TSE:ABX) announced a quarterly dividend on Wednesday, May 7th, RTT News reports. Shareholders of record on Friday, May 30th will be given a dividend of 0.10 per share by the gold and copper producer on Monday, June 16th. This represents a $0.40 annualized dividend and a yield of 2.12%. The ex-dividend date is Friday, May 30th.

Barrick Gold has decreased its dividend by an average of 3.2% annually over the last three years. Barrick Gold has a payout ratio of 17.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Barrick Gold to earn $1.55 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 25.8%.

Barrick Gold Price Performance

Barrick Gold stock opened at $18.91 on Wednesday. The firm has a market capitalization of $32.51 billion, a PE ratio of 15.37, a P/E/G ratio of 0.44 and a beta of 0.25. Barrick Gold has a 52 week low of $17.41 and a 52 week high of $47.50. The firm’s 50-day simple moving average is $19.01 and its 200 day simple moving average is $17.74. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14.

Barrick Gold (NYSE:B) (TSE:ABX) last announced its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 earnings per share. On average, equities research analysts predict that Barrick Gold will post 1.47 EPS for the current fiscal year.

Barrick Gold announced that its board has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the gold and copper producer to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

B has been the topic of a number of analyst reports. UBS Group increased their target price on Barrick Gold from $22.00 to $25.00 and gave the company a “buy” rating in a report on Friday, April 11th. Wall Street Zen assumed coverage on Barrick Gold in a research note on Monday, May 12th. They set a “sell” rating on the stock. Royal Bank of Canada boosted their target price on shares of Barrick Gold from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. Scotiabank upped their target price on shares of Barrick Gold from $20.00 to $22.00 and gave the company a “sector perform” rating in a report on Monday, April 14th. Finally, National Bankshares reiterated an “outperform” rating on shares of Barrick Gold in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.05.

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.