Barrick Gold (NYSE:GOLD) Reports Quarterly Earnings

Barrick Gold (NYSE:GOLD - Get Free Report) and TSE: ABX released its quarterly earnings results on Wednesday. The gold and copper producer reported earnings of $0.46 per share for the quarter, which matches the consensus estimate of $0.46, as revealed by Zacks. The company demonstrated a return on equity of 5.82% and maintained a net margin of 13.19%.

Barrick Gold Price Performance

During trading hours on Wednesday, shares of NYSE:GOLD rose by $1.20, reaching a price of $18.27. Approximately 20,994,362 shares were traded, which is higher than the average trading volume of 20,373,488. The company's historical stock performance indicates a fifty-day simple moving average of $16.18 and a 200-day simple moving average of $18.17. Currently, Barrick Gold holds a market capitalization of $31.55 billion, with a price-to-earnings (P/E) ratio of 19.64, a price/earnings to growth (PEG) ratio of 0.39, and a beta value of 0.55. The firm has a low of $13.76 and a high of $21.35 in the past twelve months.

Barrick Gold Declares Quarterly Dividend

Additionally, Barrick Gold has announced that it will pay a quarterly dividend on Monday, March 17th. Investors who hold shares by Friday, February 28th, will receive a dividend of $0.10 per share. This results in an annualized dividend of $0.40, offering a yield of 2.19%. Currently, Barrick Gold's dividend payout ratio (DPR) stands at 43.01%.

Market Analysis and Predictions

Several analysts have provided insights regarding Barrick Gold’s stock performance. Citigroup recently adjusted their price target for Barrick Gold from $23.00 to $17.00 and assigned a "neutral" rating. Similarly, Bank of America downgraded the stock from a "buy" to a "neutral" rating, lowering the target price from $21.00 to $18.00. Cibc World Markets revised their rating from "strong-buy" to "hold". Moreover, Scotiabank lowered their rating from "outperform" to "sector perform," reducing the price target from $23.00 to $19.00. In contrast, TD Securities set a buy rating on the stock while decreasing their price target from $26.00 to $25.00. Amid varying opinions, six research analysts rated Barrick Gold as a hold while seven assigned a buy rating, giving the company an average rating of "Moderate Buy" along with a consensus price target of $23.83.

About Barrick Gold

Barrick Gold Corporation is a leading producer in the gold and copper industry, operating primarily in the gold mining sector. Its shares are traded on the New York Stock Exchange under the ticker symbol GOLD, as well as on the Toronto Stock Exchange under ABX. In January 2019, Barrick merged with Randgold Resources and subsequently combined its gold mining operations in Nevada with Newmont Corporation to create a joint venture known as Nevada Gold Mines, which Barrick controls.

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