Barrick Gold (NYSE:GOLD) Releases Quarterly Earnings Results

Barrick Gold (NYSE:GOLD) recently announced its quarterly earnings results on a Wednesday. The gold and copper producer reported an earnings per share (EPS) of $0.46 for the quarter, which matched the consensus estimate set by analysts. This consistency in estimated earnings indicates a stable performance relative to market expectations.

Performance of Barrick Gold's Stock

On the day of the announcement, Barrick Gold's stock experienced a rise of $1.20, reaching a price of $18.27. The trading volume for the day was 20,994,362 shares, which is slightly above its average trading volume of 20,373,488 shares. Currently, the company's stock has a 50-day simple moving average of $16.18 and a 200-day simple moving average of $18.17. Barrick Gold's market capitalization stands at approximately $31.55 billion, with a price-to-earnings (P/E) ratio of 19.64 and a price/earnings to growth (PEG) ratio of 0.39. The company shows low leverage with a debt-to-equity ratio of 0.14 and maintains a strong current ratio of 2.65 as well as a quick ratio of 2.06. Over the past year, Barrick Gold's stock has hit a low of $13.76 and a high of $21.35.

Barrick Gold's Dividend Announcement

Additionally, Barrick Gold has declared a quarterly dividend, scheduled to be paid on Monday, March 17th. Investors who are on record as of Friday, February 28th, will receive a dividend of $0.10 per share, translating to an annualized dividend of $0.40 and a yield of 2.19%. The dividend payout ratio currently sits at 43.01%, indicating a balanced approach to returning value to shareholders while retaining funds for growth.

Analyst Insights and Forecasts

Wall Street analysts have mixed views on Barrick Gold's future. Citigroup recently downgraded its price target from $23.00 to $17.00 while maintaining a "neutral" rating. Similarly, Bank of America adjusted its rating from "buy" to "neutral," lowering the price target from $21.00 to $18.00. Other firms, like CIBC World Markets and Scotiabank, have similarly reduced their ratings. However, TD Securities has kept a "buy" rating with a slightly higher price target of $25.00. Overall, analysts have issued six hold ratings and seven buy ratings, resulting in an average rating of "Moderate Buy" and a consensus price target of $23.83 according to MarketBeat data.

Company Overview of Barrick Gold

Barrick Gold Corporation is a leading producer in the gold and copper sector, with shares available on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange as ABX. A significant development in the company's history occurred in January 2019 when Barrick merged with Randgold Resources. Furthermore, in July of the same year, Barrick combined its gold operations in Nevada with those of Newmont Corporation in a joint venture known as Nevada Gold Mines, which Barrick predominantly runs.

Barrick, Earnings, Investment