Barrick Gold (NYSE:GOLD) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Barrick Gold (NYSE:GOLD) (TSE:ABX) posted its quarterly earnings results on Wednesday. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.04, RTT News reports. The firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 earnings per share.

Barrick Gold Price Performance

GOLD opened at $16.71 on Wednesday. The company has a fifty day simple moving average of $16.23 and a 200 day simple moving average of $16.34. The firm has a market cap of $29.34 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.53 and a beta of 0.58. Barrick Gold has a twelve month low of $13.76 and a twelve month high of $20.75. The company has a current ratio of 3.16, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15.

Barrick Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.074 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Wednesday, February 28th. Barrick Gold’s dividend payout ratio is presently 55.56%.

Analysts Set New Price Targets

Several research analysts have weighed in on GOLD shares. Scotiabank lowered their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, February 20th. Raymond James lowered their target price on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. StockNews.com upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. CIBC lowered their price target on shares of Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Finally, National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average price target of $20.06.

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.