Barrick Gold (NYSE:GOLD) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Barrick Gold (NYSE:GOLD) (TSE:ABX) issued its earnings results on Monday. The gold and copper producer reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05, Briefing.com reports. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the firm earned $0.19 earnings per share. Barrick Gold’s revenue for the quarter was up 11.6% on a year-over-year basis.

Barrick Gold Price Performance

NYSE GOLD traded down $0.23 during mid-day trading on Wednesday, hitting $18.90. The stock had a trading volume of 12,143,502 shares, compared to its average volume of 21,762,240. The firm’s 50 day moving average is $17.43 and its 200 day moving average is $16.65. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 2.49. The stock has a market capitalization of $33.13 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 0.48 and a beta of 0.51. Barrick Gold has a twelve month low of $13.76 and a twelve month high of $19.45.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Friday, August 30th. Barrick Gold’s payout ratio is 48.78%.

Analysts Set New Price Targets

Several equities research analysts have commented on GOLD shares. CIBC upped their price target on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Jefferies Financial Group boosted their target price on shares of Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Finally, BMO Capital Markets dropped their price target on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and a consensus target price of $22.20.

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.