Barrick Gold (NYSE:GOLD) Releases Quarterly Earnings Results

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

Barrick Gold Stock Performance

Barrick Gold stock opened at $16.36 on Thursday. Barrick Gold has a twelve month low of $13.76 and a twelve month 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 capitalization of $28.72 billion, a P/E ratio of 22.72, a PEG ratio of 1.53 and a beta of 0.58. The stock’s 50 day moving average is $16.26 and its 200 day moving average is $16.34.

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 issued a dividend of $0.074 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.30 annualized dividend and a dividend yield of 1.81%. Barrick Gold’s payout ratio is 55.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Royal Bank of Canada restated an “outperform” rating and set a $18.00 price target on shares of Barrick Gold in a research report on Monday, March 4th. Scotiabank lowered their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research note on Tuesday, February 20th. CIBC reduced their price target on 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, Argus reissued a “hold” rating on shares of Barrick Gold in a research note on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.