Barrick Gold Corp (GOLD) to Issue Quarterly Dividend of $0.10 on September 15th

Posted by Defense World Staff on Aug 10th, 2023

Barrick Gold Corp (NYSE:GOLD – Get Free Report) (TSE:ABX) announced a quarterly dividend on Tuesday, August 8th, Zacks reports. Shareholders of record on Thursday, August 31st will be paid a dividend of 0.10 per share by the gold and copper producer on Friday, September 15th. This represents a $0.40 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Wednesday, August 30th. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07.

Barrick Gold has increased its dividend by an average of 51.3% annually over the last three years. Barrick Gold has a payout ratio of 34.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Barrick Gold to earn $1.10 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 36.4%.

Barrick Gold Stock Up 0.1 %

Shares of GOLD opened at $16.46 on Thursday. Barrick Gold has a 1 year low of $13.01 and a 1 year high of $20.75. The firm has a market cap of $28.90 billion, a P/E ratio of 274.33, a P/E/G ratio of 9.80 and a beta of 0.36. The stock has a 50 day simple moving average of $16.89 and a two-hundred day simple moving average of $13.52. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.71 and a quick ratio of 2.14.

Barrick Gold (NYSE:GOLD – Get Free Report) (TSE:ABX) last posted its quarterly earnings results on Tuesday, August 8th. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. Barrick Gold had a net margin of 1.06% and a return on equity of 3.46%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same period in the prior year, the business posted $0.24 earnings per share. On average, analysts forecast that Barrick Gold will post 0.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Barrick Gold

Several hedge funds and other institutional investors have recently modified their holdings of GOLD. FWL Investment Management LLC bought a new position in shares of Barrick Gold in the fourth quarter worth about $36,000. Resurgent Financial Advisors LLC purchased a new position in Barrick Gold during the 4th quarter valued at about $36,000. Chilton Capital Management LLC bought a new stake in shares of Barrick Gold in the 1st quarter valued at about $37,000. Fairfield Bush & CO. purchased a new stake in shares of Barrick Gold in the 1st quarter worth approximately $42,000. Finally, Almanack Investment Partners LLC. bought a new position in Barrick Gold in the third quarter worth approximately $46,000. 55.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GOLD. National Bank Financial raised their price objective on shares of Barrick Gold from C$28.00 to C$32.00 in a report on Tuesday, April 18th. Stifel Nicolaus boosted their target price on Barrick Gold from C$29.00 to C$30.00 in a research report on Thursday, April 20th. Laurentian reduced their price objective on Barrick Gold from C$5.00 to C$4.70 in a research report on Thursday, May 4th. The Goldman Sachs Group upped their price objective on Barrick Gold from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, April 21st. Finally, Cormark upgraded shares of Barrick Gold from a “market perform” rating to a “buy” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Barrick Gold presently has an average rating of “Moderate Buy” and a consensus price target of $21.97.

Check Out Our Latest Stock Analysis on Barrick Gold

About Barrick Gold

(Get Free Report)

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.