Barrick Gold (NYSE:GOLD) Releases Earnings Results, Beats Expectations By $0.04 EPS

Barrick Gold (NYSE:GOLD) (TSE:ABX) released its quarterly earnings results on Wednesday. The gold and copper producer reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04, RTT News reports. Barrick Gold had a net margin of 12.58% and a return on equity of 4.89%. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the prior year, the firm earned $0.14 EPS. The business’s revenue was up 3.9% on a year-over-year basis.

Barrick Gold Stock Down 0.5 %

NYSE:GOLD traded down $0.09 during trading hours on Friday, hitting $16.46. 16,806,390 shares of the company traded hands, compared to its average volume of 29,962,524. Barrick Gold has a one year low of $13.76 and a one year high of $20.75. The company has a quick ratio of 2.40, a current ratio of 3.16 and a debt-to-equity ratio of 0.15. The company has a market cap of $28.90 billion, a PE ratio of 20.07, a PEG ratio of 1.45 and a beta of 0.59. The firm’s 50-day simple moving average is $16.31 and its 200-day simple moving average is $16.35.

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a $0.10 dividend. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a yield of 2.43%. The ex-dividend date is Friday, May 31st. Barrick Gold’s dividend payout ratio is 48.78%.

Wall Street Analyst Weigh In

GOLD has been the subject of several recent analyst reports. StockNews.com upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. Raymond James cut their price objective on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. BMO Capital Markets lowered their target price on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Jefferies Financial Group initiated coverage on shares of Barrick Gold in a report on Thursday, February 29th. They issued a “buy” rating and a $21.00 price target on the stock. Finally, Argus reaffirmed a “hold” rating on shares of Barrick Gold in a research report on Monday, February 26th. One investment 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.06.

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.