Barrick Gold (NYSE:GOLD) Posts Quarterly Earnings Results, Beats Estimates 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 the consensus estimate of $0.27 by $0.05, Briefing.com reports. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the company posted $0.19 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis.

Barrick Gold Price Performance

GOLD stock opened at $19.13 on Wednesday. The company has a market capitalization of $33.53 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 debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32. Barrick Gold has a 52-week low of $13.76 and a 52-week high of $19.45. The business has a 50-day simple moving average of $17.43 and a two-hundred day simple moving average of $16.65.

Barrick Gold Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.09%. Barrick Gold’s dividend payout ratio (DPR) is currently 48.78%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GOLD. CIBC lifted their price objective on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report 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 for the company in a research report on Wednesday, April 17th. Finally, Jefferies Financial Group boosted their target price on Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.