Barrick Gold Corp Announces Quarterly Dividend of $0.04 (NYSE:GOLD)

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) declared a quarterly dividend on Monday, August 12th, Zacks reports. Stockholders of record on Friday, August 30th will be given a dividend of 0.04 per share by the basic materials company on Monday, September 16th. This represents a $0.16 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, August 29th.

Barrick Gold has raised its dividend payment by an average of 50.6% annually over the last three years and has increased its dividend every year for the last 4 years. Barrick Gold has a payout ratio of 5.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Barrick Gold to earn $0.59 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 27.1%.

Shares of NYSE:GOLD traded down $0.23 during trading on Tuesday, hitting $17.73. 11,818,321 shares of the company traded hands, compared to its average volume of 17,650,860. The company has a market capitalization of $32.10 billion, a PE ratio of 50.64, a price-to-earnings-growth ratio of 19.60 and a beta of -0.24. The stock has a fifty day simple moving average of $16.70. Barrick Gold has a one year low of $9.53 and a one year high of $18.66. The company has a quick ratio of 1.47, a current ratio of 2.46 and a debt-to-equity ratio of 0.30.

Several equities analysts have recently commented on the company. Barclays lowered Barrick Gold from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $15.00 to $18.00 in a report on Tuesday, July 16th. ValuEngine lowered Barrick Gold from a “buy” rating to a “hold” rating in a report on Monday, April 29th. BMO Capital Markets raised Barrick Gold to an “outperform” rating and increased their price objective for the stock from $14.50 to $20.00 in a report on Wednesday, July 3rd. Finally, Citigroup lowered Barrick Gold to a “neutral” rating in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. Barrick Gold presently has a consensus rating of “Hold” and an average target price of $15.46.

About Barrick Gold

Barrick Gold Corporation engages in the exploration and development of mineral properties. It primarily explores for gold and copper deposits. The company holds a 50% interest in the Veladero mine located in the San Juan Province of Argentina; 50% interest in the KCGM, a gold mine located in Australia; 95% interest in Porgera, a gold mine located in Papua New Guinea; 50% interest in the Zaldívar, a copper mine located in Chile; and 50% interest in the Jabal Sayid, a copper mine located in Saudi Arabia.

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Dividend History for Barrick Gold (NYSE:GOLD)

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