Barrick Gold Reports Quarterly Earnings Results

Barrick Gold (NYSE:GOLD - Get Free Report) and TSE: ABX announced its quarterly earnings on Wednesday, providing investors with important insights regarding its performance. The renowned gold and copper producer reported earnings of $0.46 per share for the quarter, successfully matching analysts' consensus estimates of $0.46, according to Zacks Investment Research. Barrick Gold also demonstrated a return on equity of 5.82% and managed to achieve a net margin of 13.19%.

Barrick Gold Price Performance

During trading on Wednesday, shares of Barrick Gold were up by $1.20, reaching a price of $18.27. The trading volume for the day was reported at 20,994,362 shares, surpassing the average volume of 20,373,488 shares. The stock has a fifty-day simple moving average of $16.18 and a 200-day simple moving average of $18.17. With a market capitalization of $31.55 billion, Barrick Gold holds a P/E ratio of 19.64, a PEG ratio of 0.39, and a beta of 0.55. Financial ratios indicate a stable position, with a debt-to-equity ratio of 0.14, a current ratio of 2.65, and a quick ratio of 2.06. Over the past year, the company’s stock has fluctuated between a low of $13.76 and a high of $21.35.

Barrick Gold Announces Dividend

In addition to the earnings report, Barrick Gold revealed plans to pay a quarterly dividend. The dividend is scheduled for distribution on March 17, with $0.10 per share being paid to investors who are on record as of February 28. This yields an annualized dividend of $0.40, providing shareholders with a yield of 2.19%. Barrick Gold's current dividend payout ratio (DPR) stands at 43.01%, illustrating a commitment to returning value to shareholders.

Wall Street Analysts Forecast Growth

Analysis from several research firms regarding Barrick Gold’s stock has been mixed. Citigroup recently reduced their price target for Barrick Gold from $23.00 to $17.00, issuing a 'neutral' rating for the stock. Meanwhile, Bank of America also lowered their rating from 'buy' to 'neutral', adjusting their price target from $21.00 to $18.00. CIBC World Markets downgraded Barrick Gold from a 'strong-buy' to a 'hold' rating. Scotiabank has also reduced their recommendation from 'outperform' to 'sector perform', lowering their target to $19.00. Despite these reductions, some analysts have maintained positive ratings, with six giving 'hold' ratings and seven advocating for 'buy' ratings. Overall, MarketBeat indicates that the average rating for Barrick Gold is a 'Moderate Buy', with a consensus price target of $23.83.

Barrick Gold Company Overview

Barrick Gold Corporation is a leading player in the gold and copper production sector. Its stock is traded on both the New York Stock Exchange under the ticker symbol GOLD and on the Toronto Stock Exchange as ABX. Barrick Gold has expanded its operations significantly, notably merging with Randgold Resources in January 2019 and combining its Nevada gold mines with those of Newmont Corporation in a joint venture that oversees the Nevada Gold Mines, of which Barrick has a majority stake.

Barrick, Gold, Earnings