Barrick Gold (NYSE:GOLD) Posts Earnings Results, Beats Expectations By $0.05 EPS

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

Barrick Gold Stock Down 1.3 %

GOLD traded down $0.25 during midday trading on Wednesday, hitting $18.88. 2,120,859 shares of the company’s stock traded hands, compared to its average volume of 21,700,049. 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 company has a market cap of $33.09 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 0.48 and a beta of 0.51. Barrick Gold has a one year low of $13.76 and a one year high of $19.45. The stock’s fifty day simple moving average is $17.43 and its 200-day simple moving average is $16.65.

Barrick Gold Announces Dividend

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 paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 2.12%. Barrick Gold’s payout ratio is 48.78%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GOLD shares. BMO Capital Markets reduced their target price on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. CIBC upped their price target on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group raised their price objective on Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.