Barrick Gold Corp (GOLD) To Go Ex-Dividend on February 28th

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Stockholders of record on Friday, February 28th will be paid a dividend of 0.10 per share by the gold and copper producer on Monday, March 17th. This represents a $0.40 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, February 28th.

Barrick Gold has raised its dividend by an average of 3.6% per year over the last three years. Barrick Gold has a payout ratio of 23.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Barrick Gold to earn $1.53 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 26.1%.

Barrick Gold Price Performance

GOLD stock opened at $18.47 on Friday. The company has a 50 day simple moving average of $16.20 and a 200 day simple moving average of $18.17. The stock has a market cap of $31.89 billion, a price-to-earnings ratio of 19.85, a P/E/G ratio of 0.39 and a beta of 0.55. Barrick Gold has a 1 year low of $13.76 and a 1 year high of $21.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. Barrick Gold had a net margin of 13.19% and a return on equity of 5.82%. Research analysts anticipate that Barrick Gold will post 1.23 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on GOLD shares. Cibc World Mkts cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. TD Securities reduced their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday. Scotiabank lowered shares of Barrick Gold from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $23.00 to $19.00 in a research note on Thursday, January 30th. Finally, UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.67.

Barrick Gold declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the gold and copper producer to purchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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.